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Self-Employment Taxes
Taxes that self-employed individuals pay, covering Social Security and Medicare taxes, based on their net earnings.
Net Earnings
The amount of income left over after all deductions, including taxes, expenses, and allowances, have been subtracted from gross earnings.
SUTA Purposes
Relating to State Unemployment Tax Act, it's for state-level funding of unemployment benefits.
FUTA Tax
Federal Unemployment Tax Act tax, used to fund state workforce agencies.
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