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 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...
