Question

Self-Employment Taxes for partial year self-employed

Forum|Forum|7 years ago
November 26, 2018
1 reply
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I switched from being a W2 employee to self-employed(partnership) mid-year. I had already maxed out on my social security tax. I know I don't need to withhold employee side social security tax on my self-employment earnings, but do I need to withhold the employer portion for my earnings for the rest of the year. I believe I have to, but not 100% sure.

Carl11_2

any additional SS/Medicare tax is required (I am assuming it is not) then it will be reflected and dealt with on the 1065 partnership return, which has to be completed and filed before you can even start your personal 1040 return. Now I'm not 100% sure, but I have 95% confidence that the employer side does not continue once you've reached that max requirement.