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Jul

How much are self-employment FICA tax rates?

Posted by admin  Published in United States

Benni asked: I understand that commissions, if not included in W-2 income, will be taxed normal income tax plus FICA self-employment taxes. Let’s say I make $45,000 in regular W-2 salary and an additional $30,000 in commissions (for which the employer doesn’t pay any FICA) - how much would I owe in taxes??

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2 comments

24

Jul

Hello. Is there any way to reduce the self employment tax as an independent contractor?

Posted by admin  Published in United States

Angel222 asked: I will make 10000 in 2008 and am wondering if there is any way to reduce the self employment tax so I don’t have to pay the $2,000 or whatever it may be.

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4 comments

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