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Taxes 🏛 IRS

Self-Employment Tax

Self-employed individuals pay 15.3% self-employment tax on net earnings (12.4% Social Security + 2.9% Medicare). Half of SE tax is deductible on Form 1040. The Social Security portion only applies to the first $168,600 of net earnings (2024 threshold).

Source Agency
IRS
Last Verified
March 1, 2026
Next Review
May 30, 2026
View Official Source ↗
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