Self-Employment Tax Calculator
Calculate the 15.3% self-employment tax on your freelance or business income. See Social Security and Medicare breakdowns with deductible amounts.
Total Self-Employment Tax
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Taxable SE Income (92.35%)
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Social Security Tax (12.4%)
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Medicare Tax (2.9%)
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Additional Medicare (0.9%)
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Deductible Half of SE Tax
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Effective SE Tax Rate
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Quarterly Payment
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How to Use the Self-Employment Tax Calculator
- Enter net SE income: Your total self-employment income minus business expenses.
- Enter W-2 wages (optional): If you also have a regular job, enter those wages to accurately calculate the Social Security cap.
- View results: See your SE tax, deductible amount, and quarterly estimated payments.
Self-Employment Tax Breakdown
| Component | Rate | Wage Base (2026) |
|---|---|---|
| Social Security | 12.4% (6.2% x 2) | Up to $168,600 |
| Medicare | 2.9% (1.45% x 2) | No limit |
| Additional Medicare | 0.9% | Over $200,000 (single) |
| Total | 15.3% |
Frequently Asked Questions
Why is self-employment tax 15.3%?
When employed by a company, FICA taxes are split between employer and employee (each pays 7.65%). When self-employed, you pay both halves: 12.4% for Social Security plus 2.9% for Medicare = 15.3%. However, you can deduct the employer-equivalent half (7.65%) from your adjusted gross income.
What is the 92.35% rule?
Before calculating SE tax, you multiply your net self-employment income by 92.35% (100% - 7.65%). This adjustment accounts for the fact that employees don't pay FICA on their employer's share of FICA taxes. It effectively gives you the same treatment as a regular employee.
Do I need to make quarterly estimated tax payments?
Yes, if you expect to owe $1,000 or more in taxes for the year, you must make quarterly estimated tax payments. Payments are due on April 15, June 15, September 15, and January 15 of the following year. Missing payments may result in an underpayment penalty.