Self-Employment Tax Calculator
Calculate self-employment (Social Security + Medicare) tax on your net business profit.
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15.3% total (12.4% Social Security, capped at the wage base, + 2.9% Medicare) on 92.35% of net profit. You can deduct half of this on your income tax return.
Worth Knowing
Self-employment tax exists because 1099 workers have no employer to pay the matching half of FICA, so they owe the full 15.3% themselves. Two details soften it: the tax applies to roughly 92.35% of net profit rather than the whole amount, and you can deduct half of what you pay when figuring income tax. It's assessed on profit, not revenue, which is why tracking legitimate business expenses directly lowers this bill. Consult a tax professional for your specifics.
How to Use
- Enter Net self-employment profit into the Self-Employment Tax Calculator above.
- Your result appears instantly as you type — there's no submit button or page reload.
- 15.3% total (12.4% Social Security, capped at the wage base, + 2.9% Medicare) on 92.35% of net profit. You can deduct half of this on your income tax return.