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Non-Cattle Specific Topics
Every Thing Else Board
Income tax
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<blockquote data-quote="aplusmnt" data-source="post: 299107" data-attributes="member: 1399"><p>You have to pay what they call Self Employment Tax. Basically it is the same thing as Social Security Tax your Social Security benefits is what it goes towards. </p><p></p><p>Only difference is you pay it based on your bottom line not gross. You get to deduct all your business expenses first then you pay on that amount. </p><p></p><p>I assume Farmers do it the same way?</p></blockquote><p></p>
[QUOTE="aplusmnt, post: 299107, member: 1399"] You have to pay what they call Self Employment Tax. Basically it is the same thing as Social Security Tax your Social Security benefits is what it goes towards. Only difference is you pay it based on your bottom line not gross. You get to deduct all your business expenses first then you pay on that amount. I assume Farmers do it the same way? [/QUOTE]
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Income tax
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