Employer Tax and Wage Guide 

Federal Self-Employment Tax

By Mark Ingebretsen, Creative Project Manager, Stonehand Publishing If you're new to the self-employment game, you may be surprised to discover that your tax bill at the end of the year is higher than it is if you're an employee. That's because when you work for yourself, you're required to pay a self-employment tax toward Medicare and Social Security in addition to paying other applicable state and federal taxes. In effect, you pay both the employee and employer portions. ... Read more