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).
How to Plan for, Minimize, and Report the Self-Employment Tax. The Self-Employment Tax is how an independent contractor pays Social Security and Medicare payroll taxes. In the case of an employee, the employer and employee split the cost of Social Security and Medicare taxes, each paying 7.65% of eligible wages. An independent contractor, by contrast, is both the employer and the employee, so a self-employed person pays both halves, or 15.3% total. The 15.3% self-employment tax is composed of a 12.4% Social Security tax on the first $127,200 of net self-employment income for the year 2017, and a Medicare tax of 2.9% on all net self-employment income.