[HungarianGypsy]

Isn't Self-employment tax only ss and medicare taxes? After deductions, if not for this we would not have to pay high taxes.

[phoenix0468]

...After deductions, if not for this we would not have to pay high taxes.

You might want to check those numbers again. After removing SS, Medicare, unemployment, etc. your still left with your bracket taxing based on your withholdings. Depending on your income that could be 15-35% plus minus some dollars based on your withholdings. Withhold too much, and you will end up paying taxes to the Feds, withhold too little and you will end up getting your overpayment back sans interest. But of course if you don't pay your taxes the Feds will stick you with penalties and interest. Not a very fair system IMHO.

[GVnana]

Isn't Self-employment tax only ss and medicare taxes?

Yes. But if you're self-employed you must pay the second half of the contribution that is usually paid by a person's employer.