I own a small business. Do I need to pay Social Security tax?

thomas_smith · #1 (**permalink**) 07-28-2010, 06:13 PM

If your net income from the business is $xxx or more, you must pay self-employment tax, which is the Social Security tax for a self-employed individual. The good news is one-half of your self-employment tax is deductible from your adjusted gross income.

ramirezhenry55 · #2 (**permalink**) 07-29-2010, 03:22 AM

^ that's right. I suggest you start your business dealing with all this necessary documents since afterall this will be part of your deductible admin expenses.

sell suspenders · #3 (**permalink**) 08-05-2010, 08:52 AM

in China,if you working at home and just sold by website through internate,it will be no problem for tax

art793 · #4 (**permalink**) 08-17-2010, 06:05 AM

Quote:

Originally Posted by sell suspenders

in China,if you working at home and just sold by website through internate,it will be no problem for tax

yes i agree with you in China it will be no problem for tax online

markhenry · #5 (**permalink**) 01-28-2011, 05:15 AM

making all the tax dealings as well as other business accounting issues through software can really work for you. yea i guess you should pay the social security tax.

optiplex · #6 (**permalink**) 01-28-2011, 05:31 AM

yes china's tax system is ideal system is the world.