Self-Employment Tax Calculator

This self-employment tax calculator estimates the Social Security and Medicare taxes owed by self-employed individuals. The methodology applies the 15.3% combined tax rate to 92.35% of your net self-employment earnings (the taxable portion), with Social Security capped at the wage base limit ($168,600 for 2024, $176,100 for 2025) and Medicare applying to all earnings with an additional 0.9% surtax on income above $200,000 (single) or $250,000 (married). The calculator shows the deductible half of SE tax (which reduces your income tax liability but does not reduce the SE tax itself). Understanding SE tax is critical for freelancers, independent contractors, gig workers, and small business owners who do not have employer-paid FICA taxes. Real-world applications include budgeting for quarterly estimated tax payments, evaluating the true cost of self-employment, and understanding how business expenses reduce both income tax and SE tax through the 92.35% adjustment. Limitations include not accounting for the additional Medicare tax, state self-employment taxes, or the qualified business income (QBI) deduction under Section 199A.