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Self-Employment Tax Calculator

Self-employment tax is the Social Security (12.4%) and Medicare (2.9%) portion freelancers pay on their own. Use this calculator to estimate what you owe, including the deductible half.

Net self-employment profit

Gross revenue minus business expenses (Schedule C line 31).

W-2 wages earned this year

Already-paid Social Security wages reduce the SS portion.

How it works. SE tax is 15.3% of 92.35% of your net profit. Social Security stops at the wage base ($176,100); Medicare keeps going. You deduct half of SE tax "above the line" on Form 1040.

SE tax owed

$8,478

Deductible half

$4,239

Social Security portion

$6,871

Medicare portion

$1,607

Effective SE rate

14.13%

SE base (92.35%)

$55,410

This calculator provides general projections only and is not individualized tax or legal advice. Consult a qualified CPA for your specific situation.