Self Employment Tax Calculator
Calculate self employment tax with our free Self employment tax Calculator. Compare rates, see projections, and make informed financial decisions.
Reviewed by Sahil, Senior Finance & Tax Editor
Reviewed by Sahil, Senior Finance & Tax Editor
Formula
SE Tax = Net Income × 92.35% × 15.3% (12.4% SS + 2.9% Medicare)
Self-employed individuals pay both employer and employee portions of FICA. The 92.35% factor accounts for the employer-equivalent deduction. SS cap: $168,600 (2024).
Worked Examples
Example 1: $80K net income
Problem:Net SE income: $80,000
Solution:Base: $73,880 × 15.3% = $11,304
Result:$11,304 SE tax
Reviewed by Sahil, Senior Finance & Tax Editor · Editorial policy