The tax rate is about 19% and seems very high.
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You must pay 15.3% self employment tax on most of the $11,700 of income or about $1790 and 10% federal income tax on the difference between $11,700 and $6,300 (your standard deduction) or about $540. This comes out higher than $2200 because the self employment tax is actually a little less than $1790.
You must pay 15.3% self employment tax on most of the $11,700 of income or about $1790 and 10% federal income tax on the difference between $11,700 and $6,300 (your standard deduction) or about $540. This comes out higher than $2200 because the self employment tax is actually a little less than $1790.
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