Definitions for "self-employment tax"
Social Security tax paid by the self-employed.
Social Security and Medicare taxes paid by self-employed persons. While the employer pays part of these payroll taxes for employees, self-employeds must pay the entire amounts themselves.
Similar to Social Security and Medicare taxes. The self-employment tax rate is 15.3 percent of self-employment profit. The self-employment tax is calculated on Schedule SE, . The self-employment tax is reported on Form 1040, .