self-employment tax - Investment & Finance Definition
A tax that self-employed people have to pay to cover their Social Security taxes. When people are employed, their employer pays half of the Social Security tax; if a person is self-employed, he or she has to pay the entire amount. The self-employment tax is currently around 15 percent, but is usually adjusted every year.
Webster's New World Finance and Investment Dictionary Copyright © 2010 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.
Used by arrangement with John Wiley & Sons, Inc.
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"self-employment tax." YourDictionary, n.d. Web. 18 August 2018. <http://www.yourdictionary.com/self-employment-tax>.
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self-employment tax. (n.d.). Retrieved August 18th, 2018, from http://www.yourdictionary.com/self-employment-tax
