How much tax should I withhold from self employment earnings?
by 
The Curious Bag
ANSWERS: 1
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<h4 class="dechead">On One Hand: Employer/Employee Taxes
Those who are self-employed pay both employer and employee taxes, which results in about 12 percent self-employment tax plus whatever federal income tax for which you are responsible.
On the Other: Good Rule of Thumb
A good rule of thumb is to hold back 30 percent of your income, which equates to 15 percent self employment plus 15 percent federal income tax.
Bottom Line
Always consult a tax professional to evaluate your particular income situation. A safe guideline is to withhold 30 percent of your income.
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