What is the self employment tax?

For self-employment income earned in 2013 and 2014, the self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). read more

Self-Employment Tax Rate. The law sets the self-employment tax rate as a percentage of your net earnings from self-employment. This rate consists of 12.4% for social security and 2.9% for Medicare taxes. Additional Medicare Tax. Additional Medicare Tax applies to self-employment income above a threshold. read more

Self-employment tax (SE tax) is the Social Security and Medicare tax paid by self-employed individuals. It is similar to FICA which is the Social Security and Medicare taxes withheld from an employee’s paycheck. read more