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2011 Earned Income and Self-Employment Tax Affect on Pension Calculations
FIS Relius 
[Guidance Overview] Jan. 18, 2012
For years, Code ?164(f) has allowed a self-employed individual to deduct from adjusted gross income one-half of the self-employment taxes (SE Tax) the individual pays. This is designed to put an unincorporated business on an even footing with a corporation. Corporations can deduct the company's share of FICA, which is one-half of the total FICA paid. The 164(f) deduction allows the individual to have the benefit of a similar deduction.
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