Self-Employment Tax Calculator
Estimate self-employment (SE) tax on your net self-employment income. SE tax is Social Security (12.4%, capped) plus Medicare (2.9%). We apply the 92.35% adjustment to net income and show the deductible half. Use for planning only—not for filing.
Self-employment tax estimate
2024 wage cap. Estimate only.
How this is calculated
SE tax base = net SE income × 92.35%. Social Security tax = 12.4% of the lesser of (base or wage cap minus other earned income). Medicare = 2.9% of base. Total SE tax = SS + Medicare. Half is deductible on Form 1040. We use 2024 wage cap.
Use this tool for
Use it to set aside money for quarterly estimated tax, to see the impact of SE income on your tax bill, or to compare with W-2 employment. Pair with the quarterly estimated tax calculator for payment planning.
Common questions
Are the rates up to date?
We use representative rates. Verify with your state revenue department or tax advisor.
