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Tuesday, Dec. 27

Types of Taxes – Self-Employment, #110

The self-employment tax (SE tax) is a social security and Medicare tax primarily for individuals who work for themselves. It is similar to the social security and Medicare taxes withheld from the pay of most wage earners.

To pay SE tax, you must have a social security number or an individual taxpayer identification number. The SE tax rules apply no matter how old you are and even if you are already receiving Social Security…

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