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Returning Member
posted Apr 21, 2019 2:52:39 PM

Self-Employed Retirement

If your Self-Employed is retirement deducted from your Federal taxes?

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1 Replies
Level 15
Apr 22, 2019 5:53:26 PM

If you are self-employed you pay self-employment tax for Social Security and Medicare, if that is what you are asking.  The SE tax is about 15% of your self-employment income.  You also pay ordinary income tax if you are self=employed.

https://ttlc.intuit.com/questions/2902389-why-am-i-paying-self-employment-tax