Self-employment tax explained

Unbeknownst to many people, self-employment tax is a Federal tax that is imposed on net self-employment earnings. This is the case even when those earnings come from sources outside the United States. The rate (normally 15.3%) is reduced by 2% for the 2011 calendar...

Self-employment tax on S-corporations

Self-employment tax was previously not imposed on income derived from an S-corporation*. Due to abuse. this is to change, leading to controversy over why an individual should incorporate at all when the income from an S-corp flows through to the individual. *An...
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