Use An S Corporation To Mitigate Federal Employment Tax Bills

If you own an unincorporated small business, you probably don’t like the size of your self-employment (SE) tax bills. No wonder! For 2023, the SE tax is now at the painfully high rate of 15.3% on the first $160,200 of net SE income. This includes 12.4% for Social Security tax and 2.9% for Medicare tax. … Continue reading “Use An S Corporation To Mitigate Federal Employment Tax Bills”