Self-Employment Tax Calculator
Calculate your self-employment tax including Social Security and Medicare contributions.
Self-Employment Income
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Net self-employment income is your gross income minus business expenses (Schedule C line 31).
Self-Employment Tax
Taxable SE Income (92.35%)$69,262.50
Social Security Tax (12.4%)$8,588.55
Medicare Tax (2.9%)$2,008.61
Total Self-Employment Tax$10,597.16
Tax Benefit
Deductible Portion (50%)$5,298.58
This amount can be deducted on Form 1040, reducing your adjusted gross income.
SE Tax Rate Breakdown
- Social Security: 12.4% (up to wage base)
- Medicare: 2.9% (all income)
- Additional Medicare: 0.9% (over $200,000)
Self-employed individuals pay both the employer and employee portions of Social Security and Medicare taxes. The tax is calculated on 92.35% of net earnings, and half of the SE tax is deductible.