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June 5, 2019
Question

Does the federal taxes owed include federal income tax, social security and medicare?

  • June 5, 2019
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1 reply

Employee
June 5, 2019

Yes, all three.  Social Security and Medicare are called "self employment" tax for those who are sole proprietors.

On the 1040 there are also "Other Taxes" such as additional tax on IRAs, household employment taxes, healthcare individual responsibility, etc, but those don't have to do with your own earnings.