Self-Employment Tax Calculator (US)
Calculate your US self-employment tax (Social Security + Medicare) on freelance or business income.
Includes the deductible half and net income after SE tax.
Self-Employment Tax (US)
When you work for an employer, they pay half of your Social Security and Medicare taxes. When you are self-employed, you pay both halves — that is the self-employment tax.
The two-step calculation:
Step 1: Multiply net self-employment income by 92.35%
- This 7.65% reduction accounts for the deductible employer-equivalent portion
Step 2: Apply the SE tax rate to that adjusted amount
SE Tax = Net SE Income × 0.9235 × 15.3%
The 15.3% breaks down as:
- 12.4%: Social Security (on first $168,600 of wages+SE income in 2024)
- 2.9%: Medicare (on all SE income)
- +0.9%: Additional Medicare on income above $200,000 (single) or $250,000 (MFJ)
Deduction benefit: You can deduct half of your SE tax from your gross income on Schedule 1, Form 1040. This reduces your regular income tax (but not SE tax itself).
Deductible amount = SE Tax ÷ 2
Example:
- Freelance income: $60,000
- Adjusted: 60,000 × 0.9235 = $55,410
- SE Tax: 55,410 × 0.153 = $8,478
- Deductible half: $4,239 (reduces taxable income for regular income tax)
Quarterly estimated payments: The IRS expects self-employed individuals to pay taxes quarterly. Underpaying by more than $1,000 triggers a penalty.
Approximate quarterly payment = (SE Tax + estimated income tax) ÷ 4
Who pays self-employment tax?
- Freelancers and independent contractors
- Sole proprietors
- Partners in a partnership
- LLC members (single-member or pass-through)
- Anyone with net self-employment income of $400 or more
How we build and check this calculator
This calculator runs entirely in your browser, so the numbers you enter stay on your device. The math behind it is written by hand and tested against worked examples and standard references before the page goes live.
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