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.
Taxpayers who have received $400 or more in income from a Schedule C business or self-employment must file Schedule SE to determine their self-employment tax liability. Self employment tax encompasses both the employer and employee halves of the social security and medicare taxes, both of which must be paid by self-employed individuals.