Self-Employment Tax Calculator
Estimate your self-employment tax as a freelancer, contractor, or sole proprietor. Includes Social Security, Medicare, and federal income tax.
Frequently Asked Questions
What is self-employment tax?
Self-employment tax covers Social Security (12.4%) and Medicare (2.9%) — totaling 15.3%. Employees split this with their employer, but self-employed individuals pay both halves. You can deduct half of SE tax from your income.
When do I pay estimated taxes?
Self-employed individuals must pay quarterly estimated taxes. Due dates: April 15, June 15, September 15, and January 15 of the following year. Use Form 1040-ES to pay.
What is the 92.35% rule?
Only 92.35% of your net self-employment income is subject to SE tax. This mirrors the fact that employers pay half of FICA — the 7.65% "employer share" is not taxed again.