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1. What is Self-Employment(SE) Tax? 2. What schedule is SE tax reported on? 3. What portion of SE tax is deductible on page 1 of

1. What is Self-Employment(SE) Tax?

2. What schedule is SE tax reported on?

3. What portion of SE tax is deductible on page 1 of Form 1040 (for AGI deduction)? What line number?

4. IRS is enforcing penalties for failure to issue 1099 to payee. Why is 1099 important to IRS? and the payee?

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