As a self-employed individual or partner in a business, you may not understand self-employment (SE) tax, how it’s calculated, or how it affects you. As an employee SE tax doesn’t affect you at all.   While you can stop reading at this point, I suggest you continue in case 1) you plan on starting your own business, 2) become partner, or 3) want to understand the tax consequences of your boss (assuming (s)he’s a sole proprietor

Read more