Is there a Private contractor fee?

Forum|Forum|7 years ago
June 6, 2019
1 reply
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I owe a lot more taxes than I thought I would.

TurboTax Deluxe Online

IsabellaG

Level 13

If you earned income as a contractor rather than as an employee, your income would be subject to Self-Employment tax in addition to regular income tax. Self-Employment tax represents Social Security and Medicare taxes.

The SE tax rate for 2016 is 15.3% of your net profit up to $118,500.

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Is there a Private contractor fee?

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