self employed

self-employment tax

The self-employment tax is a social security and Medicare tax for individuals who work for themselves.

If you have employees, you are responsible for several federal, state, and local taxes. As an employer, you must withhold Federal income tax withholding, social security and Medicare taxes, and Federal Unemployment Tax Act (FUTA) taxes.

Your business may be required to file information returns to report certain types of payments made during the year. a description about this item

The self-employment tax is a social security and Medicare tax for individuals who work for themselves.