Hey everyone - this is my first post and I'm not really sure if we're allowed to ask specific tax questions, but figured I'd give it a shot.
It's probably a dumb question, but if I ended up with $700 in net income this year (my first), would I pay the 15% SE tax on the whole $700, or just on the $300 that's above the $400 IRS threshold? Hope that made sense. Thanks!
I figured out the SE tax question from the irs website but I appreciate your help, as well as letting me know there are no dumb questions :).
I have the 2017 QB desktop version but in all honesty it's really, really confusing and overwhelming. For 2017 I'm still going to rely on paper, pencil, and the irs website.
Thanks for your feedback, @taxnewb. Let me know how it goes with the old-school approach (and if you have any questions, you can't go wrong by consulting a tax professional).
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