Understanding Self-Employment Tax on $50000
What is self-employment tax on $50000? Then, if the result is less than the contribution and benefit base for the year, multiply the result by the total self-employment tax rate, currently 15.3 percent. For example, if your net self-employment income is $50,000 multiply $50,000 by 0.9235 to get $46,175. Read more on www.gobankingrates.com Self-employment tax … Read more