Self-Employment Tax Calculator

Calculator

Estimate Social Security and Medicare taxes on self-employment income using the usual 92.35% net earnings adjustment and the Social Security wage base cap.

Inputs

Net profit (Schedule C) ($)

Use estimated annual net profit after business expenses.

Social Security wage base year

Used for the Social Security portion cap.

Optional W-2 wages already subject to Social Security ($)

Optional — helps if you also had employee wages during the year.

Decimals

Controls display rounding only.

Results

Estimated SE tax

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Half-SE-tax deduction

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Social Security portion

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Medicare portion

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Metric	Value	Notes

Estimate only. Does not include federal income tax, QBI deduction, credits, Additional Medicare Tax, or state tax.

How is self-employment tax calculated?

First, net profit is multiplied by 92.35% to estimate net earnings subject to SE tax. Then the Social Security part is taxed at 12.4% up to the wage base, and Medicare is taxed at 2.9%.

What is the half-SE-tax deduction?

You can usually deduct half of your self-employment tax as an adjustment to income. This does not reduce SE tax itself, but it may reduce income tax.

Does this include Additional Medicare Tax?

No. This calculator keeps the estimate simple and does not add the high-income Additional Medicare Tax.