Anyone familiar with taxes in TEXAS?!?!?
"Independent contractor" in Texas...does anyone know the percentages that I have to pay back in taxes? Example: % that goes to medicare, social security...we don't have state income tax here in Texas! thanxxx
Public Comments
- Self-employment taxes (Social Security and Medicare) are approximately 14.1% of your net profit. That's on top of the Federal income taxes. This is universal for all US citizens, not just in TX.
- Read about self employed tax filing: http://taxipay.blogspot.com/2008/04/tax-filing-by-self-employed-sole.html
