Self-Employment Tax

Self-employment tax provides funds for Social Security and Medicare benefits primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the pay of most wage earners.

The self-employment tax is calculated on Schedule SE. You are required to prepare Schedule SE if you have self-employment net earnings of $400 or more.

TaxACT makes completeting Schedule SE a breeze, asking easy-to-follow interview questions while it automatically calculates Schedule SE for you.

To view details for the Self-Employment Tax using TaxACT:

For Desktop (Download / CD) Users:

Start or continue your tax return
In the Tool Bar, click the 'Site Map' button
In the Site Map list, go to '3. Federal QnA - Business Income' and click on 'Self-Employment Tax'

For Online (Over the Web) Users:

Start or continue your tax return
In the Blue Menu Bar, click the 'Site Map' button
In the Site Map window, go to '3. Federal QnA - Business Income' and click on 'Self-Employment Tax'

Additional Information:

IRS Tax Topic 554 - Self-Employment Tax