What is the independence tax?

In the United States, the independence tax is used primarily on individuals who work for self-employment people. It is a social security and a Medicare tax, which is very similar to taxes detained from wages employed by another person or enterprise-employed. You can be self -employed and work part -time or full -time if you work for yourself. In principle, if you work for yourself and someone else does not pay your tax, you have to pay this tax. Medicare represented 2.9% and social security for another 12.4%. Part of the social security is based on the first $ 94,200 USD (USD), which the taxpayer receives as income. Therefore, the individual would pay the most in terms of this part is $ 11,680. TheMedicare part of the tax does not have a ceiling for the income for which it is founded; It is based on the total income of the taxpayer. For both these parts of the tax includes the receipt of the taxpayer combined wage, tips and cleané earnings.

In order for a taxpayer to pay a job tax, he must have a social security number (SSN) or an alternative individual identification number of the taxpayer (itin). SSN can be used to use SS-5 mold. The aliens and aliens who do not have residents who do not and are not eligible for SSN will receive the Itin from the Internal Revenue Service (IRS). ITIN applications can be performed using the W-7 form.

The tax must be paid when you earn money throughout the year. If you think you owe a tax. Quarterly payments should be made using SE schedule (form 1040).

If you are self -employed and your netngs are $ 400 or more USD, then you have to pay a job tax. Also, if you are an employee of the Church with a profitable income of a little more than $ 108 or more, you have to pay the tax.