momukhtar
Returning Member

Single member LLC - self employment tax - W2

Hi

 

I am a full-time employee on W-2 who is currently paying maximum Social Security tax every year. In other words, my income is always greater than the maximum taxable earnings each year for social security tax. 

https://www.ssa.gov/benefits/retirement/planner/maxtax.html


Now I am also starting a single member LLC so I want to know do I need to pay social security tax again of 12.4% Social Security tax on the income from the LLC .