Re: Calculating pay rate

Subject: Re: Calculating pay rate
From: Gene Kim-Eng <techwr -at- genek -dot- com>
To: Robert Lauriston <robert -at- lauriston -dot- com>, techwr-l <techwr-l -at- lists -dot- techwr-l -dot- com>
Date: Mon, 24 Oct 2016 12:04:56 -0700

The "employer equivalent" portion of your SET (6.2%) is deductible from your federal income taxes. And don't forget to subtract the cost of your health insurance from your gross income before calculating your SET.

Gene Kim-Eng


On 10/23/2016 4:29 PM, Robert Lauriston wrote:

On W-2, the employer and employee each pay 6.2% Social Security and
1.45% Medicare. On 1099, you pay 15.3% self-employment tax.

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References:
Calculating pay rate: From: Keith Hood
RE: Calculating pay rate: From: Tammy Van Boening
Re: Calculating pay rate: From: Helen OBoyle
Re: Calculating pay rate: From: Robert Lauriston

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