Ocean Isle Beach Clerk. Find Ocean Isle Beach North Carolina clerk, including county, city, and circuit clerk, and clerk of court.
When figuring self-employment tax you owe, you get to reduce self-employment income by half of the self-employment tax before applying the tax rate. Say, for example, that your net self-employment income is $50,000. That's the amount you report as taxable for income tax purposes on Form 1040. But when figuring your self-employment tax on Schedule SE, Computation of Social Security Self-Employment Tax, the taxable amount is $46,175. Not paying the 15.3 percent tax on $3,225 difference in this example saves you $493.
If You Are Self-Employed If You Are Self-Employed 2018 SocialSecurity.gov. Most people who pay into Social Security work for an employer. Their employer deducts Social Security taxes from their paycheck, matches that contribution, sends taxes to the Internal Revenue Service (IRS), and reports wages to Social Security. But self-employed people must report their earnings and pay their taxes directly to IRS. Youâre self-employed if you operate a trade, business or