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- Per Diem Rates - IRS Publication 1542 Oct 2011 for Travel Within the Continental U.S (for employers who pay a per diem allowance to employees)
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Need Some Deductions for 2012?
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Updated for 2012
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Self-Employment Tax and Married Couples
If each spouse earns self-employment income:
- Each spouse must prepare his/her own Schedule SE.
- Each spouse must pay his/her own self-employment tax.
- Each spouse includes his/her own social security number (or employer identification number (EIN) if required) on his/her separate Schedule SE.
- Each spouse's Schedule SE is attached to the joint return (Form 1040) along with each Schedule C.
- Note: Remember, only one (1) Schedule SE is prepared by each spouse, regardless of how many Schedule Cs are filed.
Community Property States
For self-employment tax purposes, business income is not treated as community property.
The spouse actually carrying on the business is subject to self-employment tax.
Community property states include:
- Arizona
- California
- Idaho
- Louisiana
- Nevada
- New Mexico
- Texas
- Washington
- Wisconsin
Retirees and Self-Employment Tax
If you're retired and collecting social security benefits you must still pay self-employment tax on self-employment income.
Next:
Self-Employment Tax: Business Interruption Insurance Proceeds
Related Links
- What is Self-Employment Tax?
- Self-Employment Tax Rate
- Earnings Limitation for Social Security Tax
- Income From a Job and Self-Employment
- Who Pays Self-Employment Tax?
- What Are Net Earnings from Self-Employment?
- Self-Employment Tax for Schedule C Filers
- What Are Net Earnings from Self-Employment?
- Computing Net Earnings From Self-When to Pay Self-employment Tax
- Employment-Schedule C Filers
- More Than One Business
- Net Operating Loss Deduction
- Personal Exemption and Self-Employment Tax
- Items Not Included in Self-Employment Income
- When to File Schedule SE
- Self-Employment Tax Rate
- Deduction for One Half of Self-Employment Tax
- Deductions for Retirement Plans
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