Summit Racing SUM-G2339 - Summit RacingÂ® Molded Gasket Windage Trays Compare Windage Tray, Molded Gasket, Louvered, Nylon, Black, 3.750 in. Maximum Stroke, Chrysler, Big Block, Each
You figure self-employment tax (SE tax) yourself using Schedule SE (Form 1040). Social Security and Medicare taxes of most wage earners are figured by their employers. Also you can deduct the employer-equivalent portion of your SE tax in figuring your adjusted gross income.
To figure out how much tax to withhold, use the employeeâs Form W-4 and the methods described in Publication 15, Employer's Tax Guide and Publication 15-A, Employer's Supplemental Tax Guide. You must deposit the wages you withhold. See requirements for depositing. For 2013, the employee tax rate for social security increased to 6.2%. The social security wage base limit increased to $113,700.