Self-Employment Tax Calculator
Calculate your self-employment tax: the 15.3% Social Security + Medicare tax on freelancers, contractors and small business owners.
$50,000 of net profit owes about $7,064.77 in self-employment tax.
How to Use This Calculator
- Enter your annual net profit (income minus expenses).
- Choose your filing status.
- See your total SE tax, split between Social Security and Medicare.
The Formula
Self-employment tax = net profit × 92.35% × 15.3%. The 15.3% is 12.4% for Social Security (up to the $184,500 wage base) plus 2.9% for Medicare, with an extra 0.9% Medicare surtax on earnings over $200,000 (single) / $250,000 (MFJ).
92.35%Schedule SE factorSocial Security12.4% up to $184,500Medicare2.9% (no cap)Worked Example
A freelancer with $50,000.00 of net profit pays SE tax of about $7,064.77: roughly $5,725.70 for Social Security and $1,339.08 for Medicare. Half of the total is deductible on Form 1040.
Quick Tips
- Half of your SE tax is an above-the-line deduction — don't miss it.
- Employees don't pay this: it replaces the employer share you don't have.
- Business expenses reduce net profit, which lowers the tax.
Frequently Asked Questions
What is the self-employment tax rate for 2026?
15.3%: 12.4% for Social Security (on earnings up to $184,500) plus 2.9% for Medicare. High earners add a 0.9% surtax.
How is it different from income tax?
SE tax funds Social Security and Medicare and applies to business profit. Income tax is separate and progressive.
Can I deduct half of it?
Yes — the employer-equivalent half of SE tax is deductible as an adjustment to income on Form 1040, Schedule 1.