If your net income from the business is $*** or more, you must pay self-employment tax, which is the Social Security tax for a self-employed individual. The good news is one-half of your self-employment tax is deductible from your adjusted gross income
Re: I own a small business. Do I need to pay Social Security tax?
It is also an added deductible expense on your income so take advantage of it. There are numerous benefits you can have if you have all the necessary documents based upon the rules of your government.