| Publication Number: 533 |
| Self-Employment Tax |
| Important Changes |
| Tax rates and maximum net earnings. |
| The self-employment tax rate on net earnings remains the same for 2001 and 2002. This rate, 15.3%, is a total of 12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance). |
| The maximum amount subject to the social security part for tax years beginning in 2001 is $80,400. For 2002, that amount increases to $84,900. All net earnings of at least $400 are subject to the Medicare part. |
| Revocation of religious exemption. |
| Ministers, members of religious orders not under vows of poverty, and Christian Science practitioners who previously elected exemption from social security coverage and self-employment tax now have a limited period of time to revoke that exemption. For more information, see Revocation of exemption from SE tax later under Minister, Christian Science Practitioner, or Member of Religious Order. |
| Important Reminder |
| Photographs of missing children. |
| The Internal Revenue Service is a proud partner with the National Center for Missing and Exploited Children. Photographs of missing children selected by the Center may appear in this publication on pages that would otherwise be blank. You can help bring these children home by looking at the photographs and calling 1–800–THE–LOST (1–800–843–5678) if you recognize a child. |
| Introduction |
| The purpose of this publication is to help you understand self-employment tax. It explains: - What self-employment tax is,
- Why you pay it,
- How you pay it,
- Who must pay it, and
- How to report it on your tax return.
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| How to use this publication. |
| This publication is designed to be used with Schedule SE (Form 1040) and its instructions. Schedule SE is used to figure and report self-employment tax. This publication may help you if you need more information than the form or instructions provide. |
| Comments and suggestions. |
| We welcome your comments about this publication and your suggestions for future editions. |
| You can e-mail us while visiting our web site at
www.irs.gov. |
| You can write to us at the following address:
Internal Revenue Service
Technical Publications Branch
W:CAR:MP:FP:P
1111 Constitution Ave. NW
Washington, DC 20224
|
| We respond to many letters by telephone. Therefore, it would be helpful if you would include your daytime phone number, including the area code, in your correspondence. |
|
Useful items |
| Publication 15: Circular E, Employer's Tax Guide
15–A: Employer's Supplemental Tax Guide
225 : Farmer's Tax Guide
334: Tax Guide for Small Business
505 : Tax Withholding and Estimated Tax
517 : Social Security and Other Information for Members of the Clergy and Religious Workers
541 : Partnerships
595: Tax Highlights for Commercial Fishermen
911 : Direct Sellers
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| Form (and Instructions)
1040
U.S. Individual Income Tax Return
Sch C (Form 1040)
Profit or Loss From Business
Sch C–EZ (Form 1040)
Net Profit From Business
Sch F (Form 1040)
Profit or Loss From Farming
Sch K–1 (Form 1065)
Partner's Share of Income, Credits, Deductions, etc.
Sch K–1 (Form 1065–B)
Partner's Share of Income (Loss) From an Electing Large Partnership
Sch SE (Form 1040)
Self-Employment Tax
2031
Revocation of Exemption From Self-Employment Tax for Use by Ministers, Members of Religious Orders, and Christian Science Practitioners
4029
Application for Exemption From Social Security and Medicare Taxes and Waiver of Benefits
4361
Application for Exemption From Self-Employment Tax for Use by Ministers, Members of Religious Orders and Christian Science Practitioners
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| See How To Get Tax Help near the end of this publication for information about getting publications and forms. |
to find additional instances of index items.