I am freelancer and will have taxable business income this year. What should I pay -self employment tax or income tax?
Prashant Thakur Changed status to publish January 11, 2021
Self Employment Tax E tax refers to Social Security and Medicare taxes and this is not any income tax that you need to pay on the total income for the year.SE tax is for employers and is like the Social Security and Medicare taxes withheld from the pay of most salried persons.
Prashant Thakur Changed status to publish January 11, 2021