15 Apr '18, 4am

How to calculate self-employment taxes and find out what you owe, with @ChrisPedenCPA.

The first thing to do to calculate your self-employment income is to put your net profit or loss from either Schedule C or Schedule C-EZ on Schedule SE in either the short or long form section. You will multiply this amount by 92.35% to get the taxable amount. If the amount is $127,200 or less, then multiply that amount by 15.3% to get your self-employment taxes for the year. If more than $127,200, multiply your taxable income by 2.9% and add to that total $15,772.80.

Full article: https://www.godaddy.com/garage/calculating-self-employmen...

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