- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Self employed
You are not paying twice, but you are paying for both the employer and employee portions of the Self-Employment tax. The total tax is 15.3%. The employer pays 7.65% and the employee pays 7.65%. Since you are both employee and employer, you pay the full 15.3%, on net earnings. But you can deduct the employer portion as a business expense - TurboTax does this automatically.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 12, 2025
9:31 PM