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    #16
    I got this from The Tax Book Update Service.
    On page 6 Section VI, it states that Self Employed Individuals will pay only 10.4% instead of 12.4% for 2011 (one year). So....... Self employed get the reduction also, but it will be on the tax return.

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      #17
      Originally posted by Piglee View Post
      I got this from The Tax Book Update Service.
      On page 6 Section VI, it states that Self Employed Individuals will pay only 10.4% instead of 12.4% for 2011 (one year). So....... Self employed get the reduction also, but it will be on the tax return.
      I read that but the Schedule SE on the IRS website still shows 15.3% and Drake is calculating it at 15.3%.
      In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
      Alexis de Tocqueville

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        #18
        Originally posted by DaveO View Post
        I read that but the Schedule SE on the IRS website still shows 15.3% and Drake is calculating it at 15.3%.
        While this may be true and they are slow to update, IRS has said that all payrolls have up until March 31 to get the 2% reduction fixed. Meaning first 12 weekly paychecks can be at the higher rate but by the 13th paycheck an adjustment must be made bringing the quarter to show the 2% reduction for the whole quarter.
        This post is for discussion purposes only and should be verified with other sources before actual use.

        Many times I post additional info on the post, Click on "message board" for updated content.

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          #19
          Originally posted by DaveO View Post
          I read that but the Schedule SE on the IRS website still shows 15.3% and Drake is calculating it at 15.3%.
          Dave> Form SE is for 2010, the new law is for 2011. So no forms for 2011 are even out yet.
          This post is for discussion purposes only and should be verified with other sources before actual use.

          Many times I post additional info on the post, Click on "message board" for updated content.

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            #20
            Doh! I stepped in that one didn't I?
            In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.
            Alexis de Tocqueville

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