Self-employment Tax Calculator

What the Self-employment Tax Calculator does

Self-employed people pay both the employee and employer shares of Social Security and Medicare, known as self-employment tax. It is 15.3% of 92.35% of net self-employment earnings: 12.4% for Social Security up to the annual wage base and 2.9% for Medicare on everything. Half of it is deductible for income tax.

Formula

• SE earnings = net earnings × 92.35%
• Social Security = 12.4% × SE earnings up to (wage base − W-2 wages)
• Medicare = 2.9% × SE earnings
• Deductible half = SE tax ÷ 2

Worked example

Using the starting values in the calculator above:

How to read the result

If you also have a salary, your W-2 wages use up part of the Social Security wage base, which lowers the Social Security part of self-employment tax.

High earners may also owe the 0.9% Additional Medicare Tax above the threshold for their filing status; it is calculated separately.

Estimates only, not tax advice. Rates and thresholds change; confirm current figures with your tax authority or adviser.

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