If I'm self employed as an independent contractor with no one working for me do I still owe FICA and social security taxes? Any help would be appreciated.
If your an independant contractor I believe you get 1099'd at the end of the year, so yeah I think you have to pay that during tax time, but they don't take it out of your paycheck, thats the whole point of a 1099, to pay it at the end of the year
Here is the info from the IRS for independent contractors: http://www.irs.gov/pub/irs-pdf/p1779.pdf You will pay an "self-employment tax" when you file.