Why is that?
I am self-employed, do I pay double? Yikes.
If you don’t, then Mr Fed will soon .come to visit...
If you are a regular employee, you pay 6.2% of your income for SS, and 1.45% for Medicare.
If you are self employed, you pay 12.4% for SS, and 2.9% for Medicare.
All of this on up to $102,000