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? Thanks,
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar. Earnings Estimates, Analyst Ra