“Everyone’s really self-employed. If you work for a company, you just have one client,” says Gregg Fisher, 35, founder of Gerstein Fisher, a New York financial-planning firm. “If they fire you, you’re out of business.”
— “6 financial milestones before 30”, MSN Money
Except, of course, the IRS doesn’t make you pay that silly extra tax.
~CKL
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The Self-Employment tax is just the other half of Social Security and Medicare. It’s not extra at all; employees just don’t see it.
Perhaps the IRS gave themselves a marketing problem when they gave it a different name.