A sad state of affairs . . . - The Official Forum

#21 (permalink)

Sun Jun 28, 2009, 06:25am

bob jenkins bob jenkins is offline

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Join Date: Aug 1999

Posts: 18,244

Quote:

Originally Posted by RichMSN

You only pay self-employment taxes above a threshold - net income over $400. All deductible expenses are removed before you calculate the SE tax.

Plus, 1/2 of that SE tax is a deduction itself -- whether or not you itemize.

And, the $400 limit Rich mentions is *total* SE income -- not per payer.

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