What is the tax rate for 1099 income 2021?

What is the tax rate for 1099 income 2021?

15.3% If you work as a company employee, your employer typically withholds this from your paycheck as part of payroll taxes. By contrast, 1099 workers need to account for these taxes on their own. The self-employment tax rate for 2021 is 15.3% of your net earnings (12.4% Social Security tax plus 2.9% Medicare tax). Jan 19, 2022