Rating is available when the video has been rented.
This feature is not available right now. Please try again later.
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.