Income & Tax
Self-Employment Tax Calculator
Estimate the self-employment tax you owe on freelance or business net earnings, including the Social Security and Medicare portions.
Enter your net self-employment earnings to estimate the 15.3% self-employment tax and the deductible employer-equivalent half.
Income & Tax
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Example
On $50,000 of net earnings, self-employment tax is calculated on 92.35% of that amount at a combined 15.3% rate.
Results
Self-employment tax
$7,065
Deductible half
$3,532
Effective rate
14.1%
Projection
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No timeline is available for the current inputs.
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Result reading
Estimate of self-employment tax only, using the 15.3% combined rate on 92.35% of net earnings. Federal and state income taxes are separate.
Planning cue
Use the output as a scenario test rather than a promise. Small input changes can materially change the result.
Estimate of self-employment tax only, using the 15.3% combined rate on 92.35% of net earnings. Federal and state income taxes are separate.
How it works
What the result is showing you
These sections explain what the calculator measures, which assumptions matter most, and where the number can be misleading.
What self-employment tax covers
When you work for yourself, you pay both the employee and employer share of Social Security and Medicare. That combined 15.3% is the self-employment tax, charged on 92.35% of your net business earnings.
Half of it is deductible
You can deduct the employer-equivalent half of self-employment tax when figuring your income tax. It does not reduce the self-employment tax itself, but it lowers the income that your federal income tax is based on.
Plan for quarterly payments
Because no employer withholds taxes for you, self-employment tax and income tax are usually paid through quarterly estimated payments. Setting money aside as you earn it avoids a large bill and potential penalties at filing time.
FAQ
Frequently asked questions
Quick answers to the questions people ask most about this calculator.
What is the self-employment tax rate?
It is 15.3% total: 12.4% for Social Security on earnings up to the annual wage base, plus 2.9% for Medicare with no cap. It applies to 92.35% of your net self-employment earnings.
Is this the same as income tax?
No. Self-employment tax funds Social Security and Medicare and is separate from federal income tax. A self-employed person generally owes both on the same earnings, which is why setting money aside matters.
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