Self-Employment Tax Calculator
Estimate self-employment tax (Social Security + Medicare) and quarterly payments from your net earnings.
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Self-Employment Tax Estimate
Self-employment tax covers Social Security and Medicare for freelancers and business owners.
SE Taxable Income = Net Earnings × 92.35%
SE Tax = SE Taxable Income × 15.3%
Breakdown of 15.3%:
- Social Security: 12.4% (on income up to $168,600 in 2024)
- Medicare: 2.9% (no income cap)
- Additional Medicare: 0.9% on earnings above $200,000
Deductions:
- You can deduct 50% of SE tax from your adjusted gross income
- Business expenses reduce your net earnings before SE tax applies
Quarterly estimated payments are due:
- Q1: April 15
- Q2: June 15
- Q3: September 15
- Q4: January 15 (next year)
This is a simplified estimate. Consult a tax professional for your specific situation.