Can You Deduct Your Self-Employment Tax?

If you're self-employed, you pay both the employer and employee share of payroll taxes. You can deduct the employer-equivalent portion (7.65%) to lower your income tax. It won’t reduce your self-employment tax but can lighten your overall tax burden! #SelfEmployedLife #TaxDeductions #EntrepreneurFinance #FaithAndFinances #AskRalphShow #AskRalph