• Rivalarrival@lemmy.today
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    8 days ago

    That form does not calculate social security tax. It calculates an estimated self employment tax. None of the numbers on that page are the amount of tax owed in social security. Lines 5-9 are calculating how much additional tax you can deduct because you are paying social security tax on the first 184.5K of your income. When your income exceeds 184.5k, you are not paying additional social security tax, so you are not entitled to a greater deduction against your self-employment tax.

    • musicalphysics@discuss.online
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      3 days ago

      Everything you say is dishonest. It is in fact a form for calculating social security tax. Do you think the IRS is going to leave payroll taxes out?