Describe about self-employment tax, Financial Management

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Q. Describe about Self-Employment Tax?

Self-Employment Tax - Most individuals who are in business for themselves, like PARTNERS, SOLE PROPRIETORS or independent contractor are subject to self-employment taxes. Taxes provide coverage for the self-employed individual for social security (OASDI) and Medicare benefits (HI) similar to taxes withheld by employers from wages it pays employees.


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