Self-Employment Tax Calculator
Calculate the US Self-Employment (SE) tax — the version of Social Security and Medicare that self-employed people pay. Both halves: 15.3% on the first $168,600 of net earnings.
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About Self-Employment Tax Calculator
Why 15.3%?
Self-employed people pay both halves of FICA: 6.2% × 2 = 12.4% Social Security, plus 1.45% × 2 = 2.9% Medicare = 15.3%. Employees pay only the employee half; their employer covers the rest. Self-employed get the deduction below as partial compensation.
The 92.35% adjustment
You only owe SE tax on 92.35% of net earnings — equivalent to deducting the employer half of FICA before calculating. A minor but standard adjustment.
Quarterly estimated taxes
SE tax + income tax can be huge surprises. Pay quarterly estimated taxes (Form 1040-ES) on Apr 15, Jun 15, Sep 15, Jan 15. Underpaying triggers penalties. Many freelancers set aside 30-35% of every payment received.