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Retirement tax questions
If you are referring to income from self-employment, yes if you have net income from self-employment you will owe self-employment taxes which is both the employer and employee share of Social Security taxes and Medicare taxes.
If you are an employee and receive a W-2 then the SS and Medicare taxes are withheld from your wages by your employer and reported on the W-2 in boxes 4 and 6.
‎December 17, 2024
5:28 AM