Social Security Q & A- What is the Social Security tax - E-PersonalFinance

Social Security Q & A- What is the Social Security tax - E-PersonalFinance

What is the Social Security tax rate for a self-employed person?

The self-employment tax rate is 15.30%. The employee tax rate is 7.65%. The 7.65% tax rate is the combined rate for Social Security and Medicare. The Social Security portion (OASDI) is 6.20% on earnings up to the applicable maximum taxable amount. The Medicare portion (HI) is 1.45% on all earnings.

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