Self-Employment Tax Calculator

Estimates the combined Social Security (12.4%) and Medicare (2.9%) self-employment tax on freelance, gig, or business net income using the 92.35% taxable base. Shows the full breakdown including additional Medicare tax on income over $200K, the 50% SE tax deduction, quarterly estimated payment amounts, and effective tax rate. Clarifies that SE tax is in addition to (not instead of) regular income tax.

Self-Employment Tax Calculator
Informational tool.

Self-Employment Tax Calculator

Estimate your self-employment tax (Social Security + Medicare) on freelance or business income.

RESULT
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The self-employment tax calculator estimates the Social Security and Medicare taxes owed on freelance, gig, or business income. Self-employed individuals pay both the employer and employee portions — 15.3% total on the first $168,600 of net earnings (2024).

Self-Employment Tax Breakdown

Taxable SE Income = Net Income × 92.35% Social Security: 12.4% (on first $168,600) Medicare: 2.9% (on all SE income) Additional Medicare: 0.9% (on income over $200K) Total SE Tax Rate: 15.3% (up to SS cap) Deduction: 50% of SE tax is deductible on your 1040

SE Tax Examples

Net Income SE Tax Tax Deduction Effective Rate
$50,000 $7,065 $3,533 14.1%
$100,000 $14,130 $7,065 14.1%
$200,000 $25,878 $12,939 12.9%

Key Points for Self-Employed

  • 92.35% factor: You only pay SE tax on 92.35% of net earnings (simulates the employer share being non-taxable)
  • Quarterly payments: SE tax is paid quarterly via Form 1040-ES to avoid penalties
  • 50% deduction: Half of your SE tax is deductible on your 1040, reducing your income tax
  • This is in ADDITION to income tax — SE tax and income tax are separate

Self-Employment Tax Calculator FAQ

What is self-employment tax?

The combined Social Security (12.4%) and Medicare (2.9%) taxes — totaling 15.3% — that self-employed individuals pay. Employees split this with their employer; self-employed pay both halves.

How is self-employment tax calculated?

Multiply net SE income by 92.35%, then apply 12.4% for Social Security (up to $168,600 cap) and 2.9% for Medicare (no cap). Add 0.9% additional Medicare on income over $200,000.

Is SE tax in addition to income tax?

Yes — SE tax and income tax are completely separate. A freelancer earning $100,000 pays ~$14,130 in SE tax PLUS income tax on (roughly) $92,935 of taxable income.

Can I deduct SE tax?

You can deduct 50% of your SE tax as an above-the-line deduction on your 1040. This reduces your adjusted gross income and therefore your income tax.

When do I pay self-employment tax?

Quarterly estimated payments (Form 1040-ES) are due April 15, June 15, September 15, and January 15. Missing payments incurs penalties.

Is this SE tax calculator free?

Yes, completely free. Estimate SE tax with Social Security, Medicare, and deduction breakdown.

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