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Subject:  Self Employment Tax Date:  4/30/2013  1:27 PM
Author:  adewolf Number:  118557 of 127637

I recently transitioned from an employee to an independent contractor with my former employer being my only contract. I also started drawing my social security and I draw a small retirement check from a previous employer and have no taxes withheld from that. I also have a small positive cash flow from investment property.
Since my contracted gross income is about $120K, I know I have to pay federal tax on the social security and retirement but is it subject to the self employment tax as well?

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