Who is responsible for payment of self employment tax on fees received by a professional fiduciary?

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1077142

2026-05-02 08:25

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A professional fiduciary who is self-employed is responsible for paying self-employment tax on the fees they receive. This tax covers Social Security and Medicare contributions, which are typically withheld from wages for employees. Since self-employed individuals do not have an employer to withhold these taxes, they must calculate and pay them directly to the IRS when they file their tax returns.

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