Estimate your US self-employment tax (Social Security and Medicare for the self-employed) on your net business profit, including the deductible employer-equivalent portion.
How it works
- Input your final net self-employment profit for the year.
- The calculator processes the 15.3% base rate over the taxable 92.35% portion of the net.
- Review your estimated total self-employment tax and the half-deductible amount.
Frequently asked questions
Why is self-employment tax 15.3%?
Employees split FICA with their employer (7.65% each). The self-employed pay both halves — but can deduct the employer-equivalent half from taxable income.
Is this on top of income tax?
Yes — SE tax is separate from and in addition to federal and state income tax. Budget for both when setting aside money.
When do I pay it?
Through quarterly estimated tax payments to the IRS. The calculator shows a quarterly figure. Missing payments can trigger penalties.