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by vkou 3651 days ago
Context: "If you work for someone else, you pay half that, but that's the joy of being self employed."

For those not aware of the intricacies of this, if you work for someone else, your employer pays half of that 15.3%. (And reduces your salary accordingly.)

In this respect, the self-employed don't pay more taxes then anyone else. The rest of us simply don't realize we are paying it.

1 comments

Yes, you are correct. To me, it's kind of like health benefits. You sort of take it for granted until you work for yourself and realize that you have to pay it. Mostly, the two big expenses that I see other small businesses not correctly account for is increased tax liability and health care.