Self Employment Tax Calculator
Calculate your self-employment tax (Social Security and Medicare) based on your net earnings from self-employment.
Published by:
isCalculator Editorial Team
Was this calculator helpful?
How to use this tool?
Step 1: Enter your Net Earnings from Self-Employment in the input field (e.g., 50000 for $50,000). Only positive numbers are accepted.
Step 2: Click the Calculate button to compute your taxes.
Step 3: Review the results:
- Social Security Tax (12.4%) – calculated as net earnings × 12.4%
- Medicare Tax (2.9%) – calculated as net earnings × 2.9%
- Total Self-Employment Tax – the sum of both taxes
Step 4: Read the calculation breakdown below the results for a detailed explanation of how each amount was derived.
Note: All values are in US dollars. Enter net earnings (after expenses) for accurate results. If you enter an invalid number, an error message will appear.
Previous Results
| Result | Inputs | Date |
|---|
Frequently Asked Questions
Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. It is similar to the FICA tax withheld from employees' wages.
Self-employment tax is calculated on net earnings from self-employment. The current rate is 15.3%: 12.4% for Social Security and 2.9% for Medicare. There is an additional Medicare tax of 0.9% for high earners, but this calculator uses the standard rates.
Yes, you can deduct the employer-equivalent portion of your self-employment tax (half of the total) when calculating your adjusted gross income. This calculator does not include that deduction.
