WebDec 15, 2024 · For businesses with employees, the FICA tax rate is 15.3% of the employee’s gross wages — 12.4% for Social Security and 2.9% for Medicare. Employers withhold half of that FICA rate from the employee’s wages and pay the remainder out of their own pocket. WebYou have to file an income tax return if your net earnings from self-employment were $400 or more. If your net earnings from self-employment were less than $400, you still have to …
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