Self-Employment Tax Calculator
Estimate your self-employment tax — the Social Security and Medicare tax self-employed people pay on both the employee and employer share.
Total Self-Employment Tax
$8,477.73
- Social Security (12.4%)
- $6,870.84
- Medicare (2.9%)
- $1,606.89
- Additional Medicare (0.9%)
- $0.00
- Deductible half
- $4,238.87
Assumptions
- Net earnings are 92.35% of net profit, per IRS rules
- Does not include income tax — only Social Security and Medicare
How it's calculated
Net earnings = net profit × 92.35%. Social Security tax applies up to the wage base; Medicare applies to all net earnings, plus an additional 0.9% above a threshold.
Worked example
$60,000 in net profit has self-employment tax calculated on 92.35% of that amount, shown live above.
Frequently asked questions
Can I deduct any of this?
Half of your self-employment tax is deductible from your income tax — shown above as the deductible half, though it isn't applied to any income-tax calculation here.