En español | Yes. You pay in the form of the self-employment tax. The rate is 15.3 percent for 2015, equal to the sum of what would be deducted from your paycheck as Social Security and Medicare contributions if you were working for an employer and what the employer would contribute. The Social Security tax rate for 2015 is 12.4 percent on self-employment income up to $118,500. If your net earnings exceed that figure, you continue to pay only the Medicare portion of the Social Security tax, 2.9 percent, on the rest of your earnings. Portions of your self-employment tax can be taken as a deduction elsewhere on your tax return.
submit a question to
Didn’t see the answer to your question? Help us improve the tool by submitting your Social Security question. Go
Search Social Security Q&A Tool
Enter a keyword to get all the answers to your Social Security questions.
Discounts & Benefits
From companies that meet the high standards of service and quality set by AARP.
Members save 10% on monthly usage charges on qualified AT&T wireless plans.
Small business owners save 20% on new installation of any new ADT security system.
Members save 15% on eligible products/services and 5% on UPS shipping at The UPS Store®.
Renew today! Members receive exclusive member benefits & affect social change.