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Self Employment Tax - Entrepreneur Tax Training Series

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Published on Jan 26, 2012

This video answers the following questions: What is self-employment tax? How much is self-employment tax? Who pays self-employment tax? How can you reduce self-employment tax? Self employment tax covers Social Security and Medicare taxes for self employed individuals. The currnet self employment tax formula is net profit x .9235 x .133. Sole proprietors, independent contractors, 1099 reps, partnerships and LLC members all pay self-employment tax.

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