[{"data":1,"prerenderedAt":1716},["ShallowReactive",2],{"config-published":3,"i-ph:caret-down-bold":732,"i-ph:magnifying-glass":735,"i-ph:list":737,"i-ph:instagram-logo":739,"i-ph:youtube-logo":741,"i-ph:x-logo":743,"i-ph:facebook-logo":745,"i-ph:linkedin-logo":747,"discover/taxes/self-employment-tax-published":749,"i-uil:list-ul":1704,"breadcrumbs-/discover/taxes/self-employment-tax":1707,"i-ph:caret-right":1714},{"name":4,"created_at":5,"published_at":6,"updated_at":7,"id":8,"uuid":9,"content":10,"slug":724,"full_slug":724,"sort_by_date":34,"position":725,"tag_list":726,"is_startpage":543,"parent_id":727,"meta_data":34,"group_id":728,"first_published_at":729,"release_id":34,"lang":730,"path":34,"alternates":731,"default_full_slug":34,"translated_slugs":34},"App configuration","2022-11-24T11:24:28.448Z","2026-01-07T10:07:40.657Z","2026-01-07T10:07:40.684Z",224651377,"a6261810-1b4d-4071-a43d-805ea558bf15",{"_uid":11,"href":12,"text":12,"component":13,"advisorCTA":14,"headerMenu":41,"footerLinks":538,"loginLinkUrl":559,"advisorCTAUrl":560,"loginLinkText":12,"proHeaderMenu":561,"FooterRichText":643,"advisorCTALink":28,"advisorCTAText":644,"openInNewWindow":543,"footerLegalLinks":645,"geoWarningCTAUrl":666,"footerDisclaimer1":12,"footerDisclaimer2":667,"footerDisclaimer3":12,"footerSocialLinks":668,"geoWarningCTALink":689,"geoWarningCTAText":690,"FooterStickyBanner":691,"geoWarningCTAClose":692,"geoWarningCTATitle":693,"SpeakToAdvisorWidget":694,"newsletterSignupWidget":704},"cb57aa4d-0af2-49b3-8b8f-16521700f0a8","","app-configuration",{"type":15,"content":16},"doc",[17],{"type":18,"content":19},"paragraph",[20,27],{"text":21,"type":22,"marks":23},"Are you an adviser? ","text",[24],{"type":25,"attrs":26},"styled",{"class":12},{"text":28,"type":22,"marks":29},"Go to Unbiased Pro",[30,37,39],{"type":31,"attrs":32},"link",{"href":33,"uuid":34,"anchor":34,"target":35,"linktype":36},"https://www.unbiased.com/pro",null,"_self","url",{"type":38},"bold",{"type":25,"attrs":40},{"class":12},[42,148,269,368,440],{"CTA":43,"_uid":57,"title":58,"component":59,"overview_link":60,"main_section_links":75,"main_section_title":132,"additional_section_links":133,"additional_section_title":147},[44],{"_uid":45,"link":46,"component":56},"2298396f-4a40-4282-b5ef-f30a3b9619b8",{"type":15,"content":47},[48],{"type":18,"content":49},[50],{"text":51,"type":22,"marks":52},"Find an advisor",[53],{"type":31,"attrs":54},{"href":55,"uuid":34,"anchor":34,"target":35,"linktype":36},"https://v2.unbiased.com/inquiry/financial-advisor","app-link-rich","6ee9fa7a-ee9d-4a0d-b913-99f9ee1b6e05","Financial Advice","app-header-menu-item-dropdown",[61],{"_uid":62,"link":63,"component":56},"91b4e023-f3d0-49ba-9748-f63e5fac2b1f",{"type":15,"content":64},[65],{"type":18,"content":66},[67],{"text":68,"type":22,"marks":69},"All financial advice guides",[70],{"type":31,"attrs":71},{"href":72,"uuid":73,"anchor":34,"target":35,"linktype":74},"/discover/financial-advice/","34bbfdfd-544e-42d2-aebd-78a15ad88cba","story",[76,89,102,115],{"_uid":77,"link":78,"component":56},"9f8d25a8-d93c-4d4a-a4c0-a63e37483485",{"type":15,"content":79},[80],{"type":18,"content":81},[82],{"text":83,"type":22,"marks":84},"Top investment companies",[85],{"type":31,"attrs":86},{"href":87,"uuid":88,"anchor":34,"target":35,"linktype":74},"/discover/financial-advice/top-investment-companies","3b175b31-cbbf-48ec-8faa-9cfd540973df",{"_uid":90,"link":91,"component":56},"85fbb733-400d-421b-afaf-5d85ae69bb31",{"type":15,"content":92},[93],{"type":18,"content":94},[95],{"text":96,"type":22,"marks":97},"Top Robo-Advisors",[98],{"type":31,"attrs":99},{"href":100,"uuid":101,"anchor":34,"target":35,"linktype":74},"/discover/financial-advice/best-robo-advisors","f73492c0-bcc0-4243-a4de-cc85fca28178",{"_uid":103,"link":104,"component":56},"9bfc68dd-ea47-48cf-a9ae-58589bbba599",{"type":15,"content":105},[106],{"type":18,"content":107},[108],{"text":109,"type":22,"marks":110},"Top financial advisor firms",[111],{"type":31,"attrs":112},{"href":113,"uuid":114,"anchor":34,"target":35,"linktype":74},"/discover/financial-advice/best-financial-advisor","cd1dd08f-886e-453d-babc-4a707c50b530",{"_uid":116,"link":117,"component":56},"dea791c8-aa54-4a1b-8ac8-a7de2006036b",{"type":15,"content":118},[119],{"type":18,"content":120},[121],{"text":122,"type":22,"marks":123},"Top wealth management firms",[124,128],{"type":31,"attrs":125},{"href":126,"uuid":127,"anchor":34,"target":35,"linktype":74},"/discover/financial-advice/top-wealth-management-firms","b1e6000d-ed2b-4fc8-bbb2-7e803f4b512f",{"type":129,"attrs":130},"textStyle",{"color":131},"rgb(0, 0, 0)","Get help with",[134],{"_uid":135,"link":136,"component":56},"f234c95d-2ad5-4cb6-9484-4c4b31413c2f",{"type":15,"content":137},[138],{"type":18,"content":139},[140],{"text":141,"type":22,"marks":142},"Financial advisors near me",[143],{"type":31,"attrs":144},{"href":145,"uuid":146,"anchor":34,"target":35,"linktype":74},"/discover/financial-advice/find-a-financial-advisor-near-me","ecbad03f-43f9-48db-af9c-1e63b145b2d9","More resources",{"CTA":149,"_uid":160,"title":161,"component":59,"overview_link":162,"main_section_links":176,"main_section_title":132,"additional_section_links":229,"additional_section_title":147},[150],{"_uid":151,"link":152,"component":56},"8e607e09-445b-4f4c-9615-e8d266f35612",{"type":15,"content":153},[154],{"type":18,"content":155},[156],{"text":51,"type":22,"marks":157},[158],{"type":31,"attrs":159},{"href":55,"uuid":34,"anchor":34,"target":35,"linktype":36},"85c0c112-23fe-46b2-ae32-196f05710318","Retirement",[163],{"_uid":164,"link":165,"component":56},"bbf6b9e2-609e-4a82-ab5d-5ad9d07bd1a1",{"type":15,"content":166},[167],{"type":18,"content":168},[169],{"text":170,"type":22,"marks":171},"All retirement guides",[172],{"type":31,"attrs":173},{"href":174,"uuid":175,"anchor":34,"target":35,"linktype":74},"/discover/retirement/","0580c990-ee0a-4287-ac8d-d2e4689a1051",[177,190,203,216],{"_uid":178,"link":179,"component":56},"28f1d44a-d98d-4b93-9a4f-3893950dbcc0",{"type":15,"content":180},[181],{"type":18,"content":182},[183],{"text":184,"type":22,"marks":185},"Retiring on $300K",[186],{"type":31,"attrs":187},{"href":188,"uuid":189,"anchor":34,"target":35,"linktype":74},"/discover/retirement/can-you-retire-on-300k","73defa57-75a4-4cf8-8cf7-15ba93619e2c",{"_uid":191,"link":192,"component":56},"9872bd56-d9cb-4b13-88e5-a336f0246043",{"type":15,"content":193},[194],{"type":18,"content":195},[196],{"text":197,"type":22,"marks":198},"Retiring on $500K",[199],{"type":31,"attrs":200},{"href":201,"uuid":202,"anchor":34,"target":35,"linktype":74},"/discover/retirement/can-you-retire-on-500k","33db366d-aae1-49e7-afdd-62751a0fbd10",{"_uid":204,"link":205,"component":56},"48b2cd52-8bf8-4fe3-9a91-835a353cacbb",{"type":15,"content":206},[207],{"type":18,"content":208},[209],{"text":210,"type":22,"marks":211},"Retiring on $800K",[212],{"type":31,"attrs":213},{"href":214,"uuid":215,"anchor":34,"target":35,"linktype":74},"/discover/retirement/retiring-with-800k","42a16b7d-6141-4422-8909-87718b57d06d",{"_uid":217,"link":218,"component":56},"68aa3dbb-59d2-4dec-ab2c-8a74355de45d",{"type":15,"content":219},[220],{"type":18,"content":221},[222],{"text":223,"type":22,"marks":224},"Retiring on $1 million",[225],{"type":31,"attrs":226},{"href":227,"uuid":228,"anchor":34,"target":35,"linktype":74},"/discover/retirement/can-you-retire-on-1-million","4a022cdb-ad83-4b88-ab6a-87b8e39f482e",[230,243,256],{"_uid":231,"link":232,"component":56},"544b38e5-ba7a-4b9d-b8e0-86a11eae4381",{"type":15,"content":233},[234],{"type":18,"content":235},[236],{"text":237,"type":22,"marks":238},"Retirement calculator",[239],{"type":31,"attrs":240},{"href":241,"uuid":242,"anchor":34,"target":35,"linktype":74},"/discover/retirement/retirement-calculator","e750018f-e90c-4df6-b63a-97268dfdf93c",{"_uid":244,"link":245,"component":56},"20fc13a0-0418-4af1-a0c2-2c647dbbc39e",{"type":15,"content":246},[247],{"type":18,"content":248},[249],{"text":250,"type":22,"marks":251},"Roth IRA calculator",[252],{"type":31,"attrs":253},{"href":254,"uuid":255,"anchor":34,"target":35,"linktype":74},"/discover/retirement/roth-ira-calculator","58116e58-282b-41cd-8932-b47bebec7568",{"_uid":257,"link":258,"component":56},"5c17edab-55c5-4b48-bddd-7779f22984ec",{"type":15,"content":259},[260],{"type":18,"content":261},[262],{"text":263,"type":22,"marks":264},"What is a 401k",[265],{"type":31,"attrs":266},{"href":267,"uuid":268,"anchor":34,"target":35,"linktype":74},"/discover/investing/what-is-a-401k-and-how-does-it-work","342bd874-c9e1-426c-bba7-116d1f9665dc",{"CTA":270,"_uid":281,"title":282,"component":59,"overview_link":283,"main_section_links":297,"main_section_title":132,"additional_section_links":354,"additional_section_title":147},[271],{"_uid":272,"link":273,"component":56},"aada5723-1aa7-40fc-a2e8-a555f6d924cc",{"type":15,"content":274},[275],{"type":18,"content":276},[277],{"text":51,"type":22,"marks":278},[279],{"type":31,"attrs":280},{"href":55,"uuid":34,"anchor":34,"target":35,"linktype":36},"495763d1-ee75-4112-9ef6-5765d8c6a6be","Investing",[284],{"_uid":285,"link":286,"component":56},"66d9a1fe-709f-46f9-9731-2f59ebccb2cc",{"type":15,"content":287},[288],{"type":18,"content":289},[290],{"text":291,"type":22,"marks":292},"All investing guides",[293],{"type":31,"attrs":294},{"href":295,"uuid":296,"anchor":34,"target":35,"linktype":74},"/discover/investing/","740d32ec-309a-43d6-902e-cb1e62bd0fe8",[298,312,326,340],{"_uid":299,"link":300,"component":56},"f2050b75-554a-4add-a9e6-8bfa544307d6",{"type":15,"content":301},[302],{"type":18,"attrs":303,"content":304},{"textAlign":34},[305],{"text":306,"type":22,"marks":307},"The best way to invest $20k",[308],{"type":31,"attrs":309},{"href":310,"uuid":311,"anchor":34,"target":35,"linktype":74},"/discover/investing/best-way-to-invest-20k","d39e5bf4-d7b4-426a-a6f2-b871031e724e",{"_uid":313,"link":314,"component":56},"2fc43030-f262-4a71-99c2-39167ce30cce",{"type":15,"content":315},[316],{"type":18,"attrs":317,"content":318},{"textAlign":34},[319],{"text":320,"type":22,"marks":321},"The best way to invest $50k",[322],{"type":31,"attrs":323},{"href":324,"uuid":325,"anchor":34,"target":35,"linktype":74},"/discover/investing/the-best-way-to-invest-50k","abac014e-4ec8-42ae-94a0-64cfdff686d5",{"_uid":327,"link":328,"component":56},"8df420ce-d8dd-4a7a-8947-50fa74ecf8e6",{"type":15,"content":329},[330],{"type":18,"attrs":331,"content":332},{"textAlign":34},[333],{"text":334,"type":22,"marks":335},"The best way to invest $100k",[336],{"type":31,"attrs":337},{"href":338,"uuid":339,"anchor":34,"target":35,"linktype":74},"/discover/investing/the-best-way-to-invest-100k","2c6b4fe9-770f-409a-93cd-791df4eb9318",{"_uid":341,"link":342,"component":56},"fed4141f-0a48-4752-9e11-7253956a4418",{"type":15,"content":343},[344],{"type":18,"attrs":345,"content":346},{"textAlign":34},[347],{"text":348,"type":22,"marks":349},"Investments that pay a monthly income",[350],{"type":31,"attrs":351},{"href":352,"uuid":353,"anchor":34,"target":35,"linktype":74},"/discover/investing/12-investments-that-pay-monthly-income","0898e500-1457-4990-be41-57a3c68d3e9f",[355],{"_uid":356,"link":357,"component":56},"ace14b44-4a28-432f-bf49-e7bd63d0bf4d",{"type":15,"content":358},[359],{"type":18,"content":360},[361],{"text":362,"type":22,"marks":363},"Compound interest calculator",[364],{"type":31,"attrs":365},{"href":366,"uuid":367,"anchor":34,"target":35,"linktype":74},"/discover/investing/compound-interest-calculator","18ece990-d9e2-4dad-8816-fdd320af3dc0",{"CTA":369,"_uid":380,"title":381,"component":59,"overview_link":382,"main_section_links":396,"main_section_title":132,"additional_section_links":439,"additional_section_title":147},[370],{"_uid":371,"link":372,"component":56},"be29d26a-051b-4ce8-984b-36035ef7a503",{"type":15,"content":373},[374],{"type":18,"content":375},[376],{"text":51,"type":22,"marks":377},[378],{"type":31,"attrs":379},{"href":55,"uuid":34,"anchor":34,"target":35,"linktype":36},"b04c8a90-f17c-40ea-a4d5-554e8c69aa14","Banking",[383],{"_uid":384,"link":385,"component":56},"482cacd4-2995-4939-8c56-c9a74ea0236b",{"type":15,"content":386},[387],{"type":18,"content":388},[389],{"text":390,"type":22,"marks":391},"All banking guides",[392],{"type":31,"attrs":393},{"href":394,"uuid":395,"anchor":34,"target":35,"linktype":74},"/discover/banking/","d8de9283-4031-440b-be2f-01ac9349324e",[397,411,425],{"_uid":398,"link":399,"component":56},"0b07ede1-5220-4d9e-9f85-c474d743a260",{"type":15,"content":400},[401],{"type":18,"attrs":402,"content":403},{"textAlign":34},[404],{"text":405,"type":22,"marks":406},"What is private banking",[407],{"type":31,"attrs":408},{"href":409,"uuid":410,"anchor":34,"target":35,"linktype":74},"/discover/banking/what-is-private-banking","b1c04c35-0a8a-4af5-ace1-672aa41f133d",{"_uid":412,"link":413,"component":56},"caa1ee0a-c417-4cfb-b3d3-025466ab1b98",{"type":15,"content":414},[415],{"type":18,"attrs":416,"content":417},{"textAlign":34},[418],{"text":419,"type":22,"marks":420},"US income breakdown",[421],{"type":31,"attrs":422},{"href":423,"uuid":424,"anchor":34,"target":35,"linktype":74},"/discover/banking/how-much-income-puts-you-in-the-top-1-5-or-10","ddda3782-1859-49a4-82ed-935303e2bec6",{"_uid":426,"link":427,"component":56},"6a0937f3-2014-431f-a77c-95e748072003",{"type":15,"content":428},[429],{"type":18,"attrs":430,"content":431},{"textAlign":34},[432],{"text":433,"type":22,"marks":434},"Cost of living in Florida",[435],{"type":31,"attrs":436},{"href":437,"uuid":438,"anchor":34,"target":35,"linktype":74},"/discover/banking/what-is-the-cost-of-living-in-florida","9c970b27-4644-43af-834f-eba5f1ae136a",[],{"CTA":441,"_uid":452,"title":453,"component":59,"overview_link":454,"main_section_links":468,"main_section_title":132,"additional_section_links":525,"additional_section_title":147},[442],{"_uid":443,"link":444,"component":56},"f2cea9b3-b01d-4bbf-b18b-52a0737eaf3c",{"type":15,"content":445},[446],{"type":18,"content":447},[448],{"text":51,"type":22,"marks":449},[450],{"type":31,"attrs":451},{"href":55,"uuid":34,"anchor":34,"target":35,"linktype":36},"a5e4b27e-1713-42d5-9597-6882a94968c0","Taxes",[455],{"_uid":456,"link":457,"component":56},"40d47d8f-3a14-4596-9d64-337daeb3fbf5",{"type":15,"content":458},[459],{"type":18,"content":460},[461],{"text":462,"type":22,"marks":463},"All tax guides",[464],{"type":31,"attrs":465},{"href":466,"uuid":467,"anchor":34,"target":35,"linktype":74},"/discover/taxes/","cff941f3-03a9-464a-b168-0d9b1eef9ce4",[469,483,497,511],{"_uid":470,"link":471,"component":56},"e366294b-be7d-47bb-b127-25b39aab3467",{"type":15,"content":472},[473],{"type":18,"attrs":474,"content":475},{"textAlign":34},[476],{"text":477,"type":22,"marks":478},"Capital gains tax for seniors",[479],{"type":31,"attrs":480},{"href":481,"uuid":482,"anchor":34,"target":35,"linktype":74},"/discover/taxes/capital-gains-tax-exemption-for-seniors-what-does-it-mean-for-you","62ae1223-58e7-4fe8-9081-2a9d047cfb84",{"_uid":484,"link":485,"component":56},"336d1192-6b9d-4a98-8922-1877072f3003",{"type":15,"content":486},[487],{"type":18,"attrs":488,"content":489},{"textAlign":34},[490],{"text":491,"type":22,"marks":492},"Capital gains tax by state",[493],{"type":31,"attrs":494},{"href":495,"uuid":496,"anchor":34,"target":35,"linktype":74},"/discover/taxes/capital-gains-tax-by-state","94d6ce4a-1ba6-444f-a41d-4ae541b99b79",{"_uid":498,"link":499,"component":56},"7450de66-1ff3-447c-b191-1f75166a6046",{"type":15,"content":500},[501],{"type":18,"attrs":502,"content":503},{"textAlign":34},[504],{"text":505,"type":22,"marks":506},"Understanding capital gains tax",[507],{"type":31,"attrs":508},{"href":509,"uuid":510,"anchor":34,"target":35,"linktype":74},"/discover/retirement/how-much-is-capital-gains-tax","8442c69d-4c88-4d2e-8fa4-08275191bab0",{"_uid":512,"link":513,"component":56},"8050ded3-889f-43b0-92b3-30adad9ac076",{"type":15,"content":514},[515],{"type":18,"attrs":516,"content":517},{"textAlign":34},[518],{"text":519,"type":22,"marks":520},"Tax in Washington",[521],{"type":31,"attrs":522},{"href":523,"uuid":524,"anchor":34,"target":35,"linktype":74},"/discover/taxes/washington-tax-guide","2462451b-7f16-4364-8471-f78939478e7e",[526],{"_uid":527,"link":528,"component":56},"b11dcfe9-a823-4859-8965-d32bab7873e9",{"type":15,"content":529},[530],{"type":18,"content":531},[532],{"text":533,"type":22,"marks":534},"Capital Gains Tax Calculator",[535],{"type":31,"attrs":536},{"href":537,"uuid":34,"anchor":34,"target":35,"linktype":36},"https://www.unbiased.com/discover/taxes/capital-gains-tax-calculator",[539,544,546,548,550,554],{"_uid":540,"href":174,"text":541,"component":542,"openInNewWindow":543},"4654e725-33d3-4fa3-8917-b2a73f05752c"," Retirement","app-link",false,{"_uid":545,"href":295,"text":282,"component":542,"openInNewWindow":543},"3e1f2e86-310c-4ee1-be2b-c9100443d53f",{"_uid":547,"href":394,"text":381,"component":542,"openInNewWindow":543},"fa006314-3e85-43c3-9267-bb87f84a1ebc",{"_uid":549,"href":466,"text":453,"component":542,"openInNewWindow":543},"9d69eda3-6dcc-49fb-a519-f61cb97a40ff",{"_uid":551,"href":552,"text":553,"component":542,"openInNewWindow":543},"ecf272f5-571f-41aa-a069-75c81ec617e8","/discover/insurance/","Insurance",{"_uid":555,"href":556,"text":557,"component":542,"openInNewWindow":558},"0acdc588-18e3-4e41-872b-1d528d985164","/about-us","About us",true,"https://v2.unbiased.com/consumer/login","/pro",[562,575,589,603,617,630],{"_uid":563,"link":564,"component":56},"72cfe613-7b21-4cc0-acbf-66a38dab3eee",{"type":15,"content":565},[566],{"type":18,"content":567},[568],{"text":569,"type":22,"marks":570},"Pricing",[571],{"type":31,"attrs":572},{"href":573,"uuid":34,"anchor":34,"custom":574,"target":35,"linktype":36},"https://www.unbiased.com/pages/pricing",{},{"_uid":576,"link":577,"component":56},"cb14e1ca-f377-41ec-b053-b97ef2aeb42f",{"type":15,"content":578},[579],{"type":18,"content":580},[581],{"text":582,"type":22,"marks":583},"Business Growth",[584],{"type":31,"attrs":585},{"href":586,"uuid":587,"anchor":34,"custom":588,"target":35,"linktype":74},"/pro/discover/business-growth/","022b5ef6-975b-4f56-8d38-66f137e7901f",{},{"_uid":590,"link":591,"component":56},"6cdc93ad-5d74-4c39-9342-0ed49e309979",{"type":15,"content":592},[593],{"type":18,"content":594},[595],{"text":596,"type":22,"marks":597},"Trends & Insight",[598],{"type":31,"attrs":599},{"href":600,"uuid":601,"anchor":34,"custom":602,"target":35,"linktype":74},"/pro/discover/trends-insight/","4b364e23-68e6-4009-a852-83d5e327c796",{},{"_uid":604,"link":605,"component":56},"0404c041-e645-42fe-8932-be896a82902e",{"type":15,"content":606},[607],{"type":18,"content":608},[609],{"text":610,"type":22,"marks":611},"News",[612],{"type":31,"attrs":613},{"href":614,"uuid":615,"anchor":34,"custom":616,"target":35,"linktype":74},"/pro/discover/news/","829a2a75-d3fb-454c-a50c-c7f8212ea16b",{},{"_uid":618,"link":619,"component":56},"7f208f7d-d0f3-417c-8cc8-c135e72a8a74",{"type":15,"content":620},[621],{"type":18,"content":622},[623],{"text":624,"type":22,"marks":625},"Help",[626],{"type":31,"attrs":627},{"href":628,"uuid":34,"anchor":34,"custom":629,"target":35,"linktype":36},"https://www.unbiased.com/pages/pro/faqs",{},{"_uid":631,"link":632,"component":56},"f4ec7388-9b0f-42ef-96b0-38feb0f276e1",{"type":15,"content":633},[634],{"type":18,"content":635},[636],{"text":637,"type":22,"marks":638},"Login",[639],{"type":31,"attrs":640},{"href":641,"uuid":34,"anchor":34,"custom":642,"target":35,"linktype":36},"https://v2.unbiased.com/pro/login",{},[],"Are you an advisor?",[646,650,654,658,662],{"_uid":647,"href":648,"text":649,"component":542,"openInNewWindow":543},"5a4588d0-87e3-4ae5-963f-bd3ca35a1bf7","https://www.unbiased.com/faq","FAQ",{"_uid":651,"href":652,"text":653,"component":542,"openInNewWindow":543},"85a086a2-d420-43a6-a1e6-d8cfcc52a584","/terms-of-use","Terms of Use",{"_uid":655,"href":656,"text":657,"component":542,"openInNewWindow":543},"bd58e670-f5ff-4936-adbe-5aa73c990cdf","/privacy-policy","Privacy Policy",{"_uid":659,"href":660,"text":661,"component":542,"openInNewWindow":558},"eafa26a7-3b78-4f00-954e-f1ebc3115542","https://reports.adviserinfo.sec.gov/reports/ADV/323880/PDF/323880.pdf","Unbiased ADV",{"_uid":663,"href":664,"text":665,"component":542,"openInNewWindow":558},"2cbcf581-9d60-443b-9e63-9e95be09afad","https://reports.adviserinfo.sec.gov/crs/crs_323880.pdf","Unbiased CRS","https://www.unbiased.co.uk","Unbiased Inc. is a registered investment advisor with the US Securities and Exchange Commission (“SEC”). Registration as an investment advisor does not imply a certain level of skill or training.",[669,673,677,681,685],{"_uid":670,"href":671,"text":672,"component":542,"openInNewWindow":543},"2ca50944-e323-4559-9c46-b77eb4bce616","//www.instagram.com/unbiased.us/","Instagram",{"_uid":674,"href":675,"text":676,"component":542,"openInNewWindow":543},"278b2358-e4c6-491b-b011-425b4bd0b709","//www.youtube.com/@Unbiased","YouTube",{"_uid":678,"href":679,"text":680,"component":542,"openInNewWindow":543},"dccca61f-0426-4778-a54b-1944ab1ae71f","//twitter.com/Unbiased_us","Twitter",{"_uid":682,"href":683,"text":684,"component":542,"openInNewWindow":543},"6e6372d5-1f37-43fb-a849-8868877530c8","//www.facebook.com/unbiasedus","Facebook",{"_uid":686,"href":687,"text":688,"component":542,"openInNewWindow":558},"c3a97f2f-ee67-4516-9529-6aff38733af2","https://www.linkedin.com/showcase/unbiased.com/","LinkedIn","Go to UK site","It looks like you’re visiting from the UK. Would you like to visit our UK site?",[],"Stay on US site","You’re currently on our US site",[695],{"_uid":696,"heading":697,"cta_link":55,"cta_text":698,"component":699,"description":700,"pro_heading":701,"pro_cta_link":33,"pro_cta_text":702,"pro_description":703},"7404adca-dc5b-443e-a1b4-4c8bed2673b3","Financial advice","Match with an advisor","sidebar_cta","We’ll find a professional perfectly matched to your needs. Getting started is easy, fast and free.","Access high-quality leads in minutes with UnbiasedPro","Get perfect clients now.","If you're looking for the perfect clients we'll deliver them straight to your inbox and give you the tools to manage them throughout the sales process.",[705],{"_uid":706,"title":707,"CTAText":708,"subtitle":709,"component":710,"errorTitle":711,"description":712,"successTitle":713,"errorSubtitle":714,"successSubtitle":715,"consentCheckboxLabelText":716,"errorMesageFirstNameError":717,"consentCheckboxLabelLinkURL":656,"consentCheckboxLabelLinkText":718,"errorMessageRequiredFieldEmail":719,"errorMessageIncorrectEmailFormat":720,"errorMessageRequiredFieldConsent":721,"errorMessageRequiredFieldInterest":722,"errorMessageRequiredFieldFirstName":723},"8ca4fd8f-da99-489f-aa1b-fcfabdd8b7e3","Get the latest news and tips","Sign up for email updates","Sign up for news that may impact your finances","sidebar-email-signup","Sorry, there was a technical problem","Receive the latest news, tips and guides to help you manage your finances","Thanks for signing up!","Please try again later, or email contact@unbiased.com","You should receive an email confirmation shortly.","I consent to Unbiased storing my data in accordance with their","Too many characters","privacy policy","Your email address is required","Your email address contains errors","Your consent is required","Your interest is required","Your first name is required","config",-60,[],0,"c7c18fda-2d94-4a2f-9d60-e1fee25d980a","2022-11-21T10:48:58.546Z","default",[],{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":734},256,"\u003Cpath fill=\"currentColor\" d=\"m216.49 104.49l-80 80a12 12 0 0 1-17 0l-80-80a12 12 0 0 1 17-17L128 159l71.51-71.52a12 12 0 0 1 17 17Z\"/>",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":736},"\u003Cpath fill=\"currentColor\" d=\"m229.66 218.34l-50.07-50.06a88.11 88.11 0 1 0-11.31 11.31l50.06 50.07a8 8 0 0 0 11.32-11.32M40 112a72 72 0 1 1 72 72a72.08 72.08 0 0 1-72-72\"/>",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":738},"\u003Cpath fill=\"currentColor\" d=\"M224 128a8 8 0 0 1-8 8H40a8 8 0 0 1 0-16h176a8 8 0 0 1 8 8M40 72h176a8 8 0 0 0 0-16H40a8 8 0 0 0 0 16m176 112H40a8 8 0 0 0 0 16h176a8 8 0 0 0 0-16\"/>",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":740},"\u003Cpath fill=\"currentColor\" d=\"M128 80a48 48 0 1 0 48 48a48.05 48.05 0 0 0-48-48m0 80a32 32 0 1 1 32-32a32 32 0 0 1-32 32m48-136H80a56.06 56.06 0 0 0-56 56v96a56.06 56.06 0 0 0 56 56h96a56.06 56.06 0 0 0 56-56V80a56.06 56.06 0 0 0-56-56m40 152a40 40 0 0 1-40 40H80a40 40 0 0 1-40-40V80a40 40 0 0 1 40-40h96a40 40 0 0 1 40 40ZM192 76a12 12 0 1 1-12-12a12 12 0 0 1 12 12\"/>",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":742},"\u003Cpath fill=\"currentColor\" d=\"m164.44 121.34l-48-32A8 8 0 0 0 104 96v64a8 8 0 0 0 12.44 6.66l48-32a8 8 0 0 0 0-13.32M120 145.05V111l25.58 17Zm114.33-75.53a24 24 0 0 0-14.49-16.4C185.56 39.88 131 40 128 40s-57.56-.12-91.84 13.12a24 24 0 0 0-14.49 16.4C19.08 79.5 16 97.74 16 128s3.08 48.5 5.67 58.48a24 24 0 0 0 14.49 16.41C69 215.56 120.4 216 127.34 216h1.32c6.94 0 58.37-.44 91.18-13.11a24 24 0 0 0 14.49-16.41c2.59-10 5.67-28.22 5.67-58.48s-3.08-48.5-5.67-58.48m-15.49 113a8 8 0 0 1-4.77 5.49c-31.65 12.22-85.48 12-86 12H128c-.54 0-54.33.2-86-12a8 8 0 0 1-4.77-5.49C34.8 173.39 32 156.57 32 128s2.8-45.39 5.16-54.47A8 8 0 0 1 41.93 68c30.52-11.79 81.66-12 85.85-12h.27c.54 0 54.38-.18 86 12a8 8 0 0 1 4.77 5.49C221.2 82.61 224 99.43 224 128s-2.8 45.39-5.16 54.47Z\"/>",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":744},"\u003Cpath fill=\"currentColor\" d=\"m214.75 211.71l-62.6-98.38l61.77-67.95a8 8 0 0 0-11.84-10.76l-58.84 64.72l-40.49-63.63A8 8 0 0 0 96 32H48a8 8 0 0 0-6.75 12.3l62.6 98.37l-61.77 68a8 8 0 1 0 11.84 10.76l58.84-64.72l40.49 63.63A8 8 0 0 0 160 224h48a8 8 0 0 0 6.75-12.29M164.39 208L62.57 48h29l101.86 160Z\"/>",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":746},"\u003Cpath fill=\"currentColor\" d=\"M128 24a104 104 0 1 0 104 104A104.11 104.11 0 0 0 128 24m8 191.63V152h24a8 8 0 0 0 0-16h-24v-24a16 16 0 0 1 16-16h16a8 8 0 0 0 0-16h-16a32 32 0 0 0-32 32v24H96a8 8 0 0 0 0 16h24v63.63a88 88 0 1 1 16 0\"/>",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":748},"\u003Cpath fill=\"currentColor\" d=\"M216 24H40a16 16 0 0 0-16 16v176a16 16 0 0 0 16 16h176a16 16 0 0 0 16-16V40a16 16 0 0 0-16-16m0 192H40V40h176zM96 112v64a8 8 0 0 1-16 0v-64a8 8 0 0 1 16 0m88 28v36a8 8 0 0 1-16 0v-36a20 20 0 0 0-40 0v36a8 8 0 0 1-16 0v-64a8 8 0 0 1 15.79-1.78A36 36 0 0 1 184 140m-84-56a12 12 0 1 1-12-12a12 12 0 0 1 12 12\"/>",{"name":750,"created_at":751,"published_at":752,"updated_at":753,"id":754,"uuid":755,"content":756,"slug":1696,"full_slug":1697,"sort_by_date":34,"position":1698,"tag_list":1699,"is_startpage":543,"parent_id":1700,"meta_data":34,"group_id":1701,"first_published_at":1702,"release_id":34,"lang":730,"path":34,"alternates":1703,"default_full_slug":34,"translated_slugs":34},"How much is Self-Employment Tax?","2023-10-27T14:38:53.190Z","2026-02-05T12:55:29.613Z","2026-02-05T12:55:29.645Z",397176788,"de2bc416-6238-4418-9ef2-1d5e4ca51dba",{"_uid":757,"body":758,"hero":1621,"author":1644,"series":12,"sidebar":1669,"hide_cta":543,"metatags":1687,"reviewer":12,"component":1691,"updatedAt":12,"series_order":12,"bottom_banner":1692,"fullWidthMode":543,"subcategories":1693,"hideEmbeddedMF":543,"hide_pro_banner":543,"intro_paragraph":1694,"series_dropdown":543,"intro_subheading":12,"series_navigation":558,"table_of_contents":558,"outgrow_calculator":1695,"series_dropdown_label":12,"hide_email_signup_widget":543,"show_compound_calculator":543,"show_roth_ira_calculator":543,"show_footer_sticky_banner":543,"show_retirement_calculator":543,"show_capital_gains_calculator":543},"9e7d0b23-f16d-442d-8a28-d4879ced2f01",[759,820,842],{"_uid":760,"data":761,"component":819},"e0427015-b405-4d01-ba4b-139f6c086097",{"type":15,"content":762},[763,773,780,787,806],{"type":764,"attrs":765,"content":767},"heading",{"level":766},2,[768],{"text":769,"type":22,"marks":770},"Who has to pay self-employment tax? ",[771],{"type":129,"attrs":772},{"color":12},{"type":18,"content":774},[775],{"text":776,"type":22,"marks":777},"In the United States, self-employment tax is a tax that any self-employed person must pay to fund Social Security and Medicare. It's similar to the Federal Insurance Contributions Act (FICA) taxes withheld from the pay of most wage earners. It helps those who are self-employed build credit toward Social Security and Medicare coverage. ",[778],{"type":129,"attrs":779},{"color":12},{"type":18,"content":781},[782],{"text":783,"type":22,"marks":784},"If you’re self-employed, you pay self-employment tax on your net earnings. Your net earnings, sometimes called profit, are calculated by subtracting your business expenses from your total income. ",[785],{"type":129,"attrs":786},{"color":12},{"type":18,"content":788},[789,794,801],{"text":790,"type":22,"marks":791},"Self-employment tax differs from income tax as the IRS views anyone self-employed as both the employer ",[792],{"type":129,"attrs":793},{"color":12},{"text":795,"type":22,"marks":796},"an",[797,799],{"type":798},"italic",{"type":129,"attrs":800},{"color":12},{"text":802,"type":22,"marks":803},"d employee. The following table summarizes the key differences between the two taxes: ",[804],{"type":129,"attrs":805},{"color":12},{"type":18,"content":807},[808,814],{"text":809,"type":22,"marks":810},"Key Differences between Income Tax and Self-Employment Tax",[811,812],{"type":38},{"type":129,"attrs":813},{"color":12},{"text":815,"type":22,"marks":816}," ",[817],{"type":129,"attrs":818},{"color":12},"article-rich-text",{"_uid":821,"caption":12,"content":822,"component":840,"paste_content":841,"hide_heading_row":543,"first_col_to_headings":543},"95668583-f47c-4498-9b1f-7292247785db",{"tbody":823,"thead":833,"fieldtype":839},[824],{"_uid":825,"body":826,"component":832},"1b0905a1-4660-4431-b1c3-1728ae810fe0",[827,830],{"_uid":828,"value":12,"component":829},"04595869-1d80-4f2d-b396-94fe3eb391f9","_table_col",{"_uid":831,"value":12,"component":829},"5aab6db0-d98c-4f0a-8db0-f1f530aec674","_table_row",[834,837],{"_uid":835,"value":12,"component":836},"34ba7c71-b6cf-4e0d-8f62-376da9fd4aee","_table_head",{"_uid":838,"value":12,"component":836},"12d368b2-bd24-4c1a-8cf8-82a2db174dcd","table","article-table","Income Tax\tSelf-Employment Tax\nEveryone, including employees and self-employed individuals, must pay income tax.\tThis tax is specific to people who work for themselves, e.g., freelancers or business owners.\nThe tax applies to your overall earnings, including your job, investments, and other income sources.\tSelf-employed individuals must pay both income tax and self-employment tax.\nAccording to the IRS, income tax rates vary based on how much you earn, i.e., your income bracket.\tIt covers the total amount for Social Security and Medicare taxes, which are usually split between employers and employees.",{"_uid":843,"data":844,"component":819},"0dfacfe1-e541-482a-85eb-e9bebe029d3b",{"type":15,"content":845},[846,853,875,911,918,925,963,970,977,997,1004,1012,1019,1026,1150,1157,1164,1170,1277,1283,1420,1440,1448,1455,1475,1496,1504,1539,1573,1581,1588,1595],{"type":18,"content":847},[848],{"text":849,"type":22,"marks":850},"So, how much is self-employment tax? The 2023 self-employment tax rate is 15.3% of your net earnings. This tax is divided into two parts, as follows: ",[851],{"type":129,"attrs":852},{"color":12},{"type":854,"content":855},"bullet_list",[856,866],{"type":857,"content":858},"list_item",[859],{"type":18,"content":860},[861],{"text":862,"type":22,"marks":863},"12.4% for Social Security: This portion applies to your net earnings up to a limit of $160,200 for the 2023 tax year and $168,600 for the 2024 tax year.  ",[864],{"type":129,"attrs":865},{"color":12},{"type":857,"content":867},[868],{"type":18,"content":869},[870],{"text":871,"type":22,"marks":872},"2.9% for Medicare: This portion applies to all your net earnings, with no income limit. Suppose your net earnings exceed $200,000 as an individual filer (or $250,000 for married couples filing jointly). In that case, you might also be subject to an additional 0.9% Medicare tax on the excess earnings. ",[873],{"type":129,"attrs":874},{"color":12},{"type":18,"content":876},[877,882,893,898,906],{"text":878,"type":22,"marks":879},"It is important to note that tax laws and rates can change, so it's recommended to ",[880],{"type":129,"attrs":881},{"color":12},{"text":883,"type":22,"marks":884},"check the latest information from the IRS",[885,889,891],{"type":31,"attrs":886},{"href":887,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.irs.gov/forms-instructions-and-publications","_blank",{"type":129,"attrs":890},{"color":12},{"type":892},"underline",{"text":894,"type":22,"marks":895}," or ",[896],{"type":129,"attrs":897},{"color":12},{"text":899,"type":22,"marks":900},"consult with a financial advisor",[901,903,905],{"type":31,"attrs":902},{"href":55,"uuid":34,"anchor":34,"target":888,"linktype":36},{"type":129,"attrs":904},{"color":12},{"type":892},{"text":907,"type":22,"marks":908}," to get the most up-to-date and accurate details regarding your self-employment tax for the current year. ",[909],{"type":129,"attrs":910},{"color":12},{"type":764,"attrs":912,"content":913},{"level":766},[914],{"text":769,"type":22,"marks":915},[916],{"type":129,"attrs":917},{"color":12},{"type":18,"content":919},[920],{"text":921,"type":22,"marks":922},"Anyone who is self-employed must pay self-employment tax if they fall within a certain earnings bracket. This includes: ",[923],{"type":129,"attrs":924},{"color":12},{"type":854,"content":926},[927,936,945,954],{"type":857,"content":928},[929],{"type":18,"content":930},[931],{"text":932,"type":22,"marks":933},"Freelancers ",[934],{"type":129,"attrs":935},{"color":12},{"type":857,"content":937},[938],{"type":18,"content":939},[940],{"text":941,"type":22,"marks":942},"Small business owners ",[943],{"type":129,"attrs":944},{"color":12},{"type":857,"content":946},[947],{"type":18,"content":948},[949],{"text":950,"type":22,"marks":951},"Independent contractors ",[952],{"type":129,"attrs":953},{"color":12},{"type":857,"content":955},[956],{"type":18,"content":957},[958],{"text":959,"type":22,"marks":960},"People who work for themselves in various capacities, including side hustles.  ",[961],{"type":129,"attrs":962},{"color":12},{"type":18,"content":964},[965],{"text":966,"type":22,"marks":967},"Certain rules apply to specific professions, such as ministers. Still, anyone earning an income from self-employment is subject to self-employment tax. ",[968],{"type":129,"attrs":969},{"color":12},{"type":18,"content":971},[972],{"text":973,"type":22,"marks":974},"The IRS stipulates the following minimum annual income amounts for those obligated to pay this tax: ",[975],{"type":129,"attrs":976},{"color":12},{"type":854,"content":978},[979,988],{"type":857,"content":980},[981],{"type":18,"content":982},[983],{"text":984,"type":22,"marks":985},"People with net yearly earnings of $400 or more ",[986],{"type":129,"attrs":987},{"color":12},{"type":857,"content":989},[990],{"type":18,"content":991},[992],{"text":993,"type":22,"marks":994},"People in ministry with an annual net income of $108.28 or more ",[995],{"type":129,"attrs":996},{"color":12},{"type":18,"content":998},[999],{"text":1000,"type":22,"marks":1001},"If you are self-employed and earn below these minimum income amounts, you are not liable to pay self-employment tax. However, you remain accountable for income tax. ",[1002],{"type":129,"attrs":1003},{"color":12},{"type":764,"attrs":1005,"content":1006},{"level":766},[1007],{"text":1008,"type":22,"marks":1009},"How is self-employment tax calculated?  ",[1010],{"type":129,"attrs":1011},{"color":12},{"type":18,"content":1013},[1014],{"text":1015,"type":22,"marks":1016},"Self-employment tax is calculated on your profits from self-employment. You can determine your estimated return amount using the self-employment tax calculator on the applicable IRS filing documents.  ",[1017],{"type":129,"attrs":1018},{"color":12},{"type":18,"content":1020},[1021],{"text":1022,"type":22,"marks":1023},"You can calculate and pay your tax in the following way: ",[1024],{"type":129,"attrs":1025},{"color":12},{"type":1027,"attrs":1028,"content":1031},"ordered_list",{"order":1029},{"order":1030},1,[1032,1061,1076,1091,1106,1121],{"type":857,"content":1033},[1034],{"type":18,"content":1035},[1036,1042,1047,1056],{"text":1037,"type":22,"marks":1038},"Calculate your net earnings",[1039,1040],{"type":38},{"type":129,"attrs":1041},{"color":12},{"text":1043,"type":22,"marks":1044}," – Start by figuring out how much money you make annually from your self-employed work. This includes all your earnings from your business minus any allowable business expenses. These expenses could include materials costs, contract employees compensation, office space, or equipment. After you've subtracted your allowable business expenses from ",[1045],{"type":129,"attrs":1046},{"color":12},{"text":1048,"type":22,"marks":1049},"your gross (total) earnings",[1050,1053,1055],{"type":31,"attrs":1051},{"href":1052,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.unbiased.com/discover/taxes/how-do-you-work-out-gross-income-and-what-does-this-mean-for-tax",{"type":129,"attrs":1054},{"color":12},{"type":892},{"text":1057,"type":22,"marks":1058},", you get your net earnings. ",[1059],{"type":129,"attrs":1060},{"color":12},{"type":857,"content":1062},[1063],{"type":18,"content":1064},[1065,1071],{"text":1066,"type":22,"marks":1067},"Calculate the Social Security tax",[1068,1069],{"type":38},{"type":129,"attrs":1070},{"color":12},{"text":1072,"type":22,"marks":1073}," – Social Security tax is 12.4% of your net income up to a threshold of $160,200. To calculate the Social Security tax amount, you must multiply your net income by 12.4% if it is less than the threshold amount. ",[1074],{"type":129,"attrs":1075},{"color":12},{"type":857,"content":1077},[1078],{"type":18,"content":1079},[1080,1086],{"text":1081,"type":22,"marks":1082},"Calculate the Medicare tax",[1083,1084],{"type":38},{"type":129,"attrs":1085},{"color":12},{"text":1087,"type":22,"marks":1088}," – Medicare tax is 2.9% of your net income and is not subject to a threshold. To calculate Medicare tax, multiply your entire net income by 2.9%. ",[1089],{"type":129,"attrs":1090},{"color":12},{"type":857,"content":1092},[1093],{"type":18,"content":1094},[1095,1101],{"text":1096,"type":22,"marks":1097},"Calculate additional Medicare tax, if applicable",[1098,1099],{"type":38},{"type":129,"attrs":1100},{"color":12},{"text":1102,"type":22,"marks":1103}," – Suppose your net earnings exceed $200,000 (as an individual filer) or $250,000 (as a married couple filing jointly). In that case, you might be obliged to pay the additional 0.9% Medicare tax on your excess earnings. ",[1104],{"type":129,"attrs":1105},{"color":12},{"type":857,"content":1107},[1108],{"type":18,"content":1109},[1110,1116],{"text":1111,"type":22,"marks":1112},"Add the tax amounts",[1113,1114],{"type":38},{"type":129,"attrs":1115},{"color":12},{"text":1117,"type":22,"marks":1118}," – Once you've calculated the relevant tax amounts, add them to ascertain your total self-employment tax rate. ",[1119],{"type":129,"attrs":1120},{"color":12},{"type":857,"content":1122},[1123],{"type":18,"content":1124},[1125,1131,1136,1145],{"text":1126,"type":22,"marks":1127},"Pay the tax to the IRS",[1128,1129],{"type":38},{"type":129,"attrs":1130},{"color":12},{"text":1132,"type":22,"marks":1133}," – Pay the self-employment tax directly to the IRS using ",[1134],{"type":129,"attrs":1135},{"color":12},{"text":1137,"type":22,"marks":1138},"one of their accepted payment methods or platforms",[1139,1142,1144],{"type":31,"attrs":1140},{"href":1141,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.irs.gov/payments",{"type":129,"attrs":1143},{"color":12},{"type":892},{"text":1146,"type":22,"marks":1147},". Payment methods include Direct Pay, credit or debit card, or digital wallet. ",[1148],{"type":129,"attrs":1149},{"color":12},{"type":18,"content":1151},[1152],{"text":1153,"type":22,"marks":1154},"The IRS requires you to pay your annual tax amount in four estimated amounts, i.e., each quarter. This eases the burden of paying one lump sum annually. Failure to pay self-employment tax each quarter may result in a penalty. ",[1155],{"type":129,"attrs":1156},{"color":12},{"type":18,"content":1158},[1159],{"text":1160,"type":22,"marks":1161},"Below are two examples of how to calculate self-employment tax using the outlined steps:",[1162],{"type":129,"attrs":1163},{"color":12},{"type":18,"content":1165},[1166],{"text":1167,"type":22,"marks":1168},"Example 1:",[1169],{"type":38},{"type":1027,"attrs":1171,"content":1172},{"order":1030},[1173,1189,1213,1237,1253],{"type":857,"content":1174},[1175,1181],{"type":18,"content":1176},[1177],{"text":1178,"type":22,"marks":1179},"Step 1: Calculate net income",[1180],{"type":38},{"type":854,"content":1182},[1183],{"type":857,"content":1184},[1185],{"type":18,"content":1186},[1187],{"text":1188,"type":22},"Net Income = $50,000",{"type":857,"content":1190},[1191,1197],{"type":18,"content":1192},[1193],{"text":1194,"type":22,"marks":1195},"Step 2: Calculate Social Security tax (Remember: the net income threshold for this calculation is $160,200)",[1196],{"type":38},{"type":854,"content":1198},[1199],{"type":857,"content":1200},[1201,1205],{"type":18,"content":1202},[1203],{"text":1204,"type":22},"Net Income x 12.4% = Social Security tax",{"type":854,"content":1206},[1207],{"type":857,"content":1208},[1209],{"type":18,"content":1210},[1211],{"text":1212,"type":22},"$50,000 x 12.4% = $6,200",{"type":857,"content":1214},[1215,1221],{"type":18,"content":1216},[1217],{"text":1218,"type":22,"marks":1219},"Step 3: Calculate Medicare tax",[1220],{"type":38},{"type":854,"content":1222},[1223],{"type":857,"content":1224},[1225,1229],{"type":18,"content":1226},[1227],{"text":1228,"type":22},"Net income x 2.9% = Medicare tax",{"type":854,"content":1230},[1231],{"type":857,"content":1232},[1233],{"type":18,"content":1234},[1235],{"text":1236,"type":22},"$50,000 x 2.9% = $1,450",{"type":857,"content":1238},[1239,1245],{"type":18,"content":1240},[1241],{"text":1242,"type":22,"marks":1243},"Step 4: Calculate additional Medicare tax to excess earnings (if applicable)",[1244],{"type":38},{"type":854,"content":1246},[1247],{"type":857,"content":1248},[1249],{"type":18,"content":1250},[1251],{"text":1252,"type":22},"Not applicable",{"type":857,"content":1254},[1255,1261],{"type":18,"content":1256},[1257],{"text":1258,"type":22,"marks":1259},"Step 5: Calculate the total Self-Employment tax amount",[1260],{"type":38},{"type":854,"content":1262},[1263],{"type":857,"content":1264},[1265,1269],{"type":18,"content":1266},[1267],{"text":1268,"type":22},"Social Security tax + Medicare tax + additional Medicare tax = Self-Employment tax",{"type":854,"content":1270},[1271],{"type":857,"content":1272},[1273],{"type":18,"content":1274},[1275],{"text":1276,"type":22},"$6,200 + $1,450 + $0 = $7,650",{"type":18,"content":1278},[1279],{"text":1280,"type":22,"marks":1281},"Example 2:",[1282],{"type":38},{"type":1027,"attrs":1284,"content":1285},{"order":1030},[1286,1301,1323,1345,1398],{"type":857,"content":1287},[1288,1293],{"type":18,"content":1289},[1290],{"text":1178,"type":22,"marks":1291},[1292],{"type":38},{"type":854,"content":1294},[1295],{"type":857,"content":1296},[1297],{"type":18,"content":1298},[1299],{"text":1300,"type":22},"Net Income = $250,000",{"type":857,"content":1302},[1303,1308],{"type":18,"content":1304},[1305],{"text":1194,"type":22,"marks":1306},[1307],{"type":38},{"type":854,"content":1309},[1310],{"type":857,"content":1311},[1312,1315],{"type":18,"content":1313},[1314],{"text":1204,"type":22},{"type":854,"content":1316},[1317],{"type":857,"content":1318},[1319],{"type":18,"content":1320},[1321],{"text":1322,"type":22},"$160,200 x 12.4% = $19,864.80",{"type":857,"content":1324},[1325,1330],{"type":18,"content":1326},[1327],{"text":1218,"type":22,"marks":1328},[1329],{"type":38},{"type":854,"content":1331},[1332],{"type":857,"content":1333},[1334,1337],{"type":18,"content":1335},[1336],{"text":1228,"type":22},{"type":854,"content":1338},[1339],{"type":857,"content":1340},[1341],{"type":18,"content":1342},[1343],{"text":1344,"type":22},"$250,000 x 2.9% = $7,250",{"type":857,"content":1346},[1347,1352],{"type":18,"content":1348},[1349],{"text":1242,"type":22,"marks":1350},[1351],{"type":38},{"type":854,"content":1353},[1354,1376],{"type":857,"content":1355},[1356,1360],{"type":18,"content":1357},[1358],{"text":1359,"type":22},"Calculate excess earnings:",{"type":854,"content":1361},[1362],{"type":857,"content":1363},[1364,1368],{"type":18,"content":1365},[1366],{"text":1367,"type":22},"Net income - $200,000 = excess earnings",{"type":854,"content":1369},[1370],{"type":857,"content":1371},[1372],{"type":18,"content":1373},[1374],{"text":1375,"type":22},"$250,000 - $200,000 = $50,000",{"type":857,"content":1377},[1378,1382],{"type":18,"content":1379},[1380],{"text":1381,"type":22},"Calculate additional Medicare tax:",{"type":854,"content":1383},[1384],{"type":857,"content":1385},[1386,1390],{"type":18,"content":1387},[1388],{"text":1389,"type":22},"Excess earnings ($) x 0.9% = additional Medicare tax",{"type":854,"content":1391},[1392],{"type":857,"content":1393},[1394],{"type":18,"content":1395},[1396],{"text":1397,"type":22},"$50,000 x 0.9% = $450",{"type":857,"content":1399},[1400,1405],{"type":18,"content":1401},[1402],{"text":1258,"type":22,"marks":1403},[1404],{"type":38},{"type":854,"content":1406},[1407],{"type":857,"content":1408},[1409,1412],{"type":18,"content":1410},[1411],{"text":1268,"type":22},{"type":854,"content":1413},[1414],{"type":857,"content":1415},[1416],{"type":18,"content":1417},[1418],{"text":1419,"type":22},"$19,864.80 + $7,250 + $450 = $27,564.80",{"type":18,"content":1421},[1422,1427,1435],{"text":1423,"type":22,"marks":1424},"Remember to keep detailed records of your earnings and expenses to calculate your net profits and fulfill your tax obligations accurately. If you need help with how to calculate your self-employment tax, it’s recommended you consult with a registered financial adviser. ",[1425],{"type":129,"attrs":1426},{"color":12},{"text":1428,"type":22,"marks":1429},"Get matched with an Unbiased adviser here",[1430,1432,1434],{"type":31,"attrs":1431},{"href":55,"uuid":34,"anchor":34,"target":888,"linktype":36},{"type":129,"attrs":1433},{"color":12},{"type":892},{"text":1436,"type":22,"marks":1437},". ",[1438],{"type":129,"attrs":1439},{"color":12},{"type":764,"attrs":1441,"content":1442},{"level":766},[1443],{"text":1444,"type":22,"marks":1445},"What can I write off on my taxes if I’m self-employed? ",[1446],{"type":129,"attrs":1447},{"color":12},{"type":18,"content":1449},[1450],{"text":1451,"type":22,"marks":1452},"You can lower your tax contribution with the following tax deductions for self-employed individuals or couples: ",[1453],{"type":129,"attrs":1454},{"color":12},{"type":854,"content":1456},[1457,1466],{"type":857,"content":1458},[1459],{"type":18,"content":1460},[1461],{"text":1462,"type":22,"marks":1463},"Self-employment health insurance tax deduction. ",[1464],{"type":129,"attrs":1465},{"color":12},{"type":857,"content":1467},[1468],{"type":18,"content":1469},[1470],{"text":1471,"type":22,"marks":1472},"Self-employed tax deductions, which apply only to your income tax. ",[1473],{"type":129,"attrs":1474},{"color":12},{"type":18,"content":1476},[1477,1482,1491],{"text":1478,"type":22,"marks":1479},"Before applying for self-employed tax deductions, you must check if you are eligible for the ",[1480],{"type":129,"attrs":1481},{"color":12},{"text":1483,"type":22,"marks":1484},"Earned Income Tax Credit",[1485,1488,1490],{"type":31,"attrs":1486},{"href":1487,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.irs.gov/credits-deductions/individuals/earned-income-tax-credit-eitc",{"type":129,"attrs":1489},{"color":12},{"type":892},{"text":1492,"type":22,"marks":1493}," (EITC). ",[1494],{"type":129,"attrs":1495},{"color":12},{"type":764,"attrs":1497,"content":1498},{"level":766},[1499],{"text":1500,"type":22,"marks":1501},"How to file self-employment taxes? ",[1502],{"type":129,"attrs":1503},{"color":12},{"type":18,"content":1505},[1506,1511,1520,1525,1534],{"text":1507,"type":22,"marks":1508},"If you’re self-employed, you don't have an employer to withhold your taxes on your behalf. So, to file self-employment taxes, you can use ",[1509],{"type":129,"attrs":1510},{"color":12},{"text":1512,"type":22,"marks":1513},"Form 1040-ES",[1514,1517,1519],{"type":31,"attrs":1515},{"href":1516,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.irs.gov/pub/irs-pdf/f1040es.pdf",{"type":129,"attrs":1518},{"color":12},{"type":892},{"text":1521,"type":22,"marks":1522},", which will help you figure out your quarterly estimated tax returns if you are filing as an individual. You will, however, need your annual ",[1523],{"type":129,"attrs":1524},{"color":12},{"text":1526,"type":22,"marks":1527},"tax return ",[1528,1531,1533],{"type":31,"attrs":1529},{"href":1530,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.unbiased.com/discover/taxes/What-is-a-tax-return",{"type":129,"attrs":1532},{"color":12},{"type":892},{"text":1535,"type":22,"marks":1536},"from the prior year to calculate the estimates. ",[1537],{"type":129,"attrs":1538},{"color":12},{"type":18,"content":1540},[1541,1546,1555,1560,1569],{"text":1542,"type":22,"marks":1543},"To file your annual tax return, you must use a ",[1544],{"type":129,"attrs":1545},{"color":12},{"text":1547,"type":22,"marks":1548},"Schedule C",[1549,1552,1554],{"type":31,"attrs":1550},{"href":1551,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.irs.gov/pub/irs-pdf/f1040sc.pdf",{"type":129,"attrs":1553},{"color":12},{"type":892},{"text":1556,"type":22,"marks":1557}," to report your income or losses. With the calculations from Schedule C, you can evaluate how much your annual Social Security and Medicare contributions should have been for the tax year. You should file this information using  ",[1558],{"type":129,"attrs":1559},{"color":12},{"text":1561,"type":22,"marks":1562},"Schedule SE (Form 1040 or 1040-SR ), Self-Employment Tax",[1563,1566,1568],{"type":31,"attrs":1564},{"href":1565,"uuid":34,"anchor":34,"target":888,"linktype":36},"https://www.irs.gov/pub/irs-pdf/f1040sse.pdf",{"type":129,"attrs":1567},{"color":12},{"type":892},{"text":1436,"type":22,"marks":1570},[1571],{"type":129,"attrs":1572},{"color":12},{"type":764,"attrs":1574,"content":1575},{"level":766},[1576],{"text":1577,"type":22,"marks":1578},"The bottom line ",[1579],{"type":129,"attrs":1580},{"color":12},{"type":18,"content":1582},[1583],{"text":1584,"type":22,"marks":1585},"Calculating self-employment tax involves determining your net income by subtracting your allowable business expenses from your total earnings. Then, you calculate Social Security tax (12.4% of your net income up to a threshold) and Medicare tax (2.9% of your entire net income). You may be liable for an additional 0.9% Medicare tax on the excess earnings if your income exceeds specific thresholds. ",[1586],{"type":129,"attrs":1587},{"color":12},{"type":18,"content":1589},[1590],{"text":1591,"type":22,"marks":1592},"Health insurance and self-employed tax deductions can reduce your overall tax liability. It's strongly recommended you keep meticulous records of your income and business-related expenses to make accurate calculations. Additionally, staying informed about tax laws and consulting with an adviser can ensure you take advantage of available deductions when you file self-employment taxes. ",[1593],{"type":129,"attrs":1594},{"color":12},{"type":18,"content":1596},[1597,1603,1612,1617],{"text":1598,"type":22,"marks":1599},"Unbiased can help you find an SEC-regulated financial advisor well-versed in self-employment matters. They can help manage our tax needs and help you get your tax returns done right. ",[1600,1601],{"type":38},{"type":129,"attrs":1602},{"color":12},{"text":1604,"type":22,"marks":1605},"Find your financial advisor here",[1606,1608,1609,1611],{"type":31,"attrs":1607},{"href":55,"uuid":34,"anchor":34,"target":888,"linktype":36},{"type":38},{"type":129,"attrs":1610},{"color":12},{"type":892},{"text":1436,"type":22,"marks":1613},[1614,1615],{"type":38},{"type":129,"attrs":1616},{"color":12},{"text":815,"type":22,"marks":1618},[1619],{"type":129,"attrs":1620},{"color":12},[1622],{"_uid":1623,"image":1624,"title":1629,"component":1643,"breadcrumbs":558,"hideHeroImage":558},"950111ee-bc84-4cb7-8d73-383be62459d9",{"id":1625,"alt":12,"name":12,"focus":12,"title":12,"source":12,"filename":1626,"copyright":12,"fieldtype":1627,"meta_data":1628,"is_private":543,"is_external_url":543},15686623,"https://a.storyblok.com/f/185166/6000x4000/69f12303ac/self-employment-tax.webp","asset",{},{"type":15,"content":1630},[1631],{"type":18,"content":1632},[1633,1635,1641],{"text":1634,"type":22},"How much is ",{"text":1636,"type":22,"marks":1637},"Self-Employment Tax",[1638],{"type":25,"attrs":1639},{"class":1640},"primary-gradient",{"text":1642,"type":22},"?","app-hero",{"name":1645,"created_at":1646,"published_at":1647,"updated_at":1648,"id":1649,"uuid":1650,"content":1651,"slug":1661,"full_slug":1662,"sort_by_date":34,"position":1663,"tag_list":1664,"is_startpage":543,"parent_id":1665,"meta_data":34,"group_id":1666,"first_published_at":1667,"release_id":34,"lang":730,"path":34,"alternates":1668,"default_full_slug":34,"translated_slugs":34,"_stopResolving":558},"Rachel Carey","2023-03-28T10:05:08.718Z","2025-01-28T12:05:49.815Z","2025-01-28T12:05:49.832Z",283076789,"b4ce951f-89c7-4ef6-97a8-709dc6d856e1",{"job":1652,"_uid":1653,"name":1645,"image":1654,"component":1657,"education":1658,"expertise":1659,"description":1660},"Senior Content Writer","a6e3129c-eeee-4438-8204-797883981521",{"id":1655,"alt":12,"name":12,"focus":12,"title":12,"filename":1656,"copyright":12,"fieldtype":1627,"is_external_url":543},7792663,"https://a.storyblok.com/f/185166/1199x1257/2401746255/rachel-carey.jpg","article-author","Griffith College Dublin, MA (Hons) in Journalism & Media Communications","Rachel brings over a decade of experience in media, including SEO content writing, marketing, public relations, and broadcast and print journalism.","Rachel is a Senior Content Writer at Unbiased, producing content across a range of different sectors, including personal finance, retirement, and investing. She specializes in simplifying intricate financial terms into clear, engaging content tailored for both B2C and B2B audiences.","rachel-carey","authors/rachel-carey",-10,[],224651374,"024abff2-15a6-4099-8ba2-25c01abe42e8","2023-04-03T07:50:42.397Z",[],[1670],{"_uid":1671,"body":1672,"title":1685,"component":1686},"be62e2f2-f1da-4f15-b900-d33e071f7eb2",[1673,1677,1681],{"_uid":1674,"href":1675,"text":1676,"component":542,"openInNewWindow":558},"398d99bd-f53e-4cef-8450-1f817767a4a3","https://www.unbiased.com/discover/financial-advice/financial-advisor-or-do-it-myself","Should I use a financial advisor or do it myself",{"_uid":1678,"href":1679,"text":1680,"component":542,"openInNewWindow":558},"94243871-419e-4156-ab11-59c24837b5ab","http://unbiased.com/discover/retirement/self-directed-401k","Self-directed 401(k)",{"_uid":1682,"href":1683,"text":1684,"component":542,"openInNewWindow":558},"89261eb9-346b-43bb-8b52-0ea83e07634c","https://www.unbiased.com/discover/retirement-investing/how-to-plan-for-retirement-when-you-re-self-employed","Self employed retirement planning","Related articles","app-links-list",{"title":1688,"plugin":1689,"og_image":12,"og_title":12,"description":1690,"twitter_image":12,"twitter_title":12,"og_description":12,"twitter_description":12},"How Much is Self-Employment Tax? | Unbiased","seo_metatags","Calculating Self-Employment Tax: Learn how much you owe, deductions, and strategies to manage your tax liability effectively.","app-article",[],[],"If you’re self-employed, this article will explain how much tax you owe, how to calculate your deductions and strategies to manage your tax liability effectively.",[],"self-employment-tax","discover/taxes/self-employment-tax",-2790,[],224651381,"771a3544-0d64-4541-af4c-8321afb30686","2024-05-01T15:25:23.453Z",[],{"left":727,"top":727,"width":1705,"height":1705,"rotate":727,"vFlip":543,"hFlip":543,"body":1706},24,"\u003Cpath fill=\"currentColor\" d=\"M3.71 16.29a1 1 0 0 0-.33-.21a1 1 0 0 0-.76 0a1 1 0 0 0-.33.21a1 1 0 0 0-.21.33a1 1 0 0 0 .21 1.09a1.2 1.2 0 0 0 .33.21a.94.94 0 0 0 .76 0a1.2 1.2 0 0 0 .33-.21a1 1 0 0 0 .21-1.09a1 1 0 0 0-.21-.33M7 8h14a1 1 0 0 0 0-2H7a1 1 0 0 0 0 2m-3.29 3.29a1 1 0 0 0-1.09-.21a1.2 1.2 0 0 0-.33.21a1 1 0 0 0-.21.33a.94.94 0 0 0 0 .76a1.2 1.2 0 0 0 .21.33a1.2 1.2 0 0 0 .33.21a.94.94 0 0 0 .76 0a1.2 1.2 0 0 0 .33-.21a1.2 1.2 0 0 0 .21-.33a.94.94 0 0 0 0-.76a1 1 0 0 0-.21-.33M21 11H7a1 1 0 0 0 0 2h14a1 1 0 0 0 0-2M3.71 6.29a1 1 0 0 0-.33-.21a1 1 0 0 0-1.09.21a1.2 1.2 0 0 0-.21.33a.94.94 0 0 0 0 .76a1.2 1.2 0 0 0 .21.33a1.2 1.2 0 0 0 .33.21a1 1 0 0 0 1.09-.21a1.2 1.2 0 0 0 .21-.33a.94.94 0 0 0 0-.76a1.2 1.2 0 0 0-.21-.33M21 16H7a1 1 0 0 0 0 2h14a1 1 0 0 0 0-2\"/>",[1708,1711,1712],{"title":1709,"exact":558,"href":1710},"Home","https://www.unbiased.com",{"title":453,"exact":558,"to":466,"disabled":543},{"title":750,"exact":558,"to":1713,"disabled":558},"/discover/taxes/self-employment-tax",{"left":727,"top":727,"width":733,"height":733,"rotate":727,"vFlip":543,"hFlip":543,"body":1715},"\u003Cpath fill=\"currentColor\" d=\"m181.66 133.66l-80 80a8 8 0 0 1-11.32-11.32L164.69 128L90.34 53.66a8 8 0 0 1 11.32-11.32l80 80a8 8 0 0 1 0 11.32\"/>",1777540344003]