|
gptkbp:instanceOf
|
gptkb:tax_law
|
|
gptkbp:administeredBy
|
gptkb:Internal_Revenue_Service
|
|
gptkbp:appliesTo
|
independent contractors
self-employed individuals
sole proprietors
partners in partnerships
|
|
gptkbp:appliesToIncomeAbove
|
$400 net earnings
|
|
gptkbp:codifiedIn
|
gptkb:Internal_Revenue_Code_Section_1401
|
|
gptkbp:country
|
gptkb:United_States
|
|
gptkbp:dateEnacted
|
1954
|
|
gptkbp:deductiblePortion
|
50% deductible as adjustment to income
|
|
gptkbp:enactedBy
|
gptkb:United_States_Congress
|
|
gptkbp:fullName
|
gptkb:Self-Employment_Contributions_Act_tax
|
|
https://www.w3.org/2000/01/rdf-schema#label
|
SECA tax
|
|
gptkbp:IRSPublication
|
IRS Publication 334
|
|
gptkbp:MedicareAdditionalTaxRate
|
0.9%
|
|
gptkbp:MedicareAdditionalTaxThreshold
|
$200,000 (single filers, 2023)
|
|
gptkbp:notWithheldBy
|
employers
|
|
gptkbp:pays
|
taxpayer
|
|
gptkbp:purpose
|
fund Medicare
fund Social Security
|
|
gptkbp:rating
|
12.4% for Social Security (2024)
2.9% for Medicare (2024)
|
|
gptkbp:relatedTo
|
gptkb:FICA_tax
|
|
gptkbp:SocialSecurityWageBaseLimit
|
$160,200 (2023)
|
|
gptkbp:taxStatus
|
gptkb:Schedule_SE_(Form_1040)
|
|
gptkbp:bfsParent
|
gptkb:Social_Security_Benefit
|
|
gptkbp:bfsLayer
|
4
|