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Currently, I am self employed and I am going to file tax with my spouse. I have below questions on self employment tax.

  1. Do I need to pay 15.3 percent social and medicare self employment tax before or after 25% of self employment contribution?
  2. I need to pay self employment tax (15.3%) and federal tax (22%). Do I need to pay state tax apart from this one?
  3. My spouse has insurance and invested in HSA. Can I contribute to HSA as well?
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    "Do I need to pay state tax apart from this one?" Only if your state has an income tax and you meet the income threshold.
    – RonJohn
    Dec 26, 2019 at 17:23
  • By “self-employment contribution”, do you mean a contribution to a retirement account? If so, can you be more specific about the type of retirement plan?
    – prl
    Dec 26, 2019 at 17:56
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    The best way to answer this would be to just read the instructions for Schedule C and SE.
    – jamesqf
    Dec 26, 2019 at 18:52

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  • The State tax would be 100 multiplied by .028 to get $2.8
  • The Federal Tax would be 100 multiplied by .0996 to get $9.96
  • The self employment tax would be 100 multiplied by .1413 to get $14.13
  • The sep contribution would be 100 -(14.13/2) multiplied by .16667 to get $15.47
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