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Self-employment tax is 15.3% on net earnings from self-employment. The rate consists of 12.4% for old-age, survivors and disability insurance (OASDI) and 2.9% for Medicare. The OASDI rate applies to net earnings up to $102,000 for 2008, and $97,500 for 2007. The good news is that half (50%) of self-employment taxes are deductible from total revenue.
