Yes, self-employed individuals and business owners have to pay taxes just like any other salaried employees. They typically have to pay income tax as well as the self-employment tax (SE tax). However, self-employed individuals have a greater control over their tax rate because they are the primary decision makers. https://www.pensiondeductions.com/blog/ https://www.pensiondeductions.com/featured/tax-deductions-for-self-employed-individuals/