Solutions for the Affordable Housing Industry. than 40,000 vouchers. âHousing Choice Voucher Program. CVR has become an industry leader for the Housing Choice Voucher Program by offering sound technical guidance and unique solutions for each of our clients. Whether your agency needs consulting services, short-term support or comprehensive management, CVR will find the right answer to meet your needs. Our professionals have a strong track record of implementing program initiatives that are effective, innovative, and compliant with all regulations.
For self-employment income earned in 2013 and 2014, the self-employment tax rate is 15.3%. The rate consists of two parts: 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).
1. Half of Your Self-Employment Tax. When employed, your employer pays half your Medicare and Social Security taxes, and you pay the other half through payroll taxes. When you are self-employed, you must pay all of it, through self-employment tax. However, as your own employer, you are entitled to deduct half of it. Deduction or not, though, self-employment tax can be a big cost for an independent contractor. Knowing how self-employment tax is calculated is important when considering employment versus contracting.