As an electrical contractor filing your own taxes, you need to know the specific rates that make up your self-employment tax. Match each tax component to its correct rate.

When calculating your self-employment taxes as an independent electrical contractor, how are the Social Security and Medicare components of the 15.3% tax rate applied to your net earnings?

After your first year as an independent electrical contractor, you determine your net earnings are $150,000. When calculating your self-employment tax, you must apply the 15.3% rate to the entire $150,000 to find your tax liability.

As an electrical contractor analyzing the financial impact of a highly profitable year, arrange the logical sequence of steps to break down and calculate your complete self-employment tax liability.

As an electrical contractor auditing your end-of-year financials, you notice a discrepancy where your accounting software applied the 15.3% self-employment tax to your entire net profit. You evaluate this calculation as incorrect and overstating your liability, because the actual taxable base subject to self-employment tax is only ____% of your net earnings.

You are designing a custom financial dashboard for your electrical contracting business to automatically calculate tax set-asides during a high-revenue year. To create a functional logic model that correctly integrates all components of the Self-Employment (SE) tax, which assembly of calculation steps should you program into your dashboard?