Self Employment Tax Calculator
Enter your net self employment income to see your estimated Social Security tax, Medicare tax, and the amount you can deduct on your return.
Self Employment Tax Estimate
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Tax software designed for freelancers and self employed filers walks you through Schedule SE and helps you find every deduction you qualify for.
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When you work for yourself, you pay both the employer and employee portions of Social Security and Medicare taxes. That is where the 15.3% rate comes from. Regular employees only see 7.65% taken from their paycheck because their employer covers the other half.
The IRS does not apply the full 15.3% to your entire net income. First, they multiply your net earnings by 92.35% (which is 1 minus half of 15.3%). This adjustment exists because employees do not pay FICA tax on the employer share of the tax, so the IRS gives self employed people an equivalent reduction.
Social Security tax applies only on earnings up to the annual wage base ($176,100 for 2025). Income above that threshold is not subject to the 12.4% Social Security portion, but it still owes the 2.9% Medicare tax. If your income exceeds $200,000 (single filer), an additional 0.9% Medicare tax kicks in on the amount over that threshold.
Important Tax Notes
Self employment tax is separate from income tax. You owe SE tax on top of whatever your regular federal and state income tax bill comes to. The good news is that you can deduct half of your SE tax as an adjustment to income on your 1040, which lowers the income that gets taxed.
If your net self employment income is under $400 for the year, you do not owe any SE tax. Above that threshold, the full amount is taxable (after the 92.35% adjustment).
Estimated quarterly payments are typically required if you expect to owe $1,000 or more in total tax for the year. The due dates are April 15, June 15, September 15, and January 15 of the following year. Missing these deadlines can result in underpayment penalties from the IRS.
Disclaimer: This calculator provides estimates for educational purposes only. It does not constitute tax, legal, or financial advice. Tax laws change regularly. Consult a qualified tax professional or visit irs.gov for official guidance on your specific situation.