Self-Employment Tax Calculator
Estimate self-employment tax using 92.35% of net profit, the Social Security wage base after W-2 wages, Medicare tax, and the Additional Medicare Tax threshold.
Quick answer: Estimate self-employment tax using 92.35% of net profit, the Social Security wage base after W-2 wages, Medicare tax, and the Additional Medicare Tax threshold. Enter Net Self-Employment Profit, Social Security Wage Base, W-2 Social Security Wages, and Additional Medicare Tax Threshold to personalize the estimate. It returns Total Self-Employment Tax, Social Security Portion (12.4%), and Medicare Portion (2.9%) so you can compare the impact before choosing a next step. Use it to estimate tax impact, withholding, deduction, bracket, and after-tax cash-flow tradeoffs.
On $80,000 in net profit, your self-employment tax comes to about $11,304.
You can deduct about $5,652 of the regular Social Security and Medicare portions above the line; Additional Medicare Tax is not deductible.
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Estimate self-employment tax using 92.35% of net profit, the Social Security wage base after W-2 wages, Medicare tax, and the Additional Medicare Tax threshold.
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This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.
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Everything you need to know.
Does self-employment tax apply to content creator or freelance income?
What if I earn income from multiple platforms or clients?
Is the Self-Employment Tax Calculator free to use?
Does using the Self-Employment Tax Calculator affect my credit score?
Are the results personalized financial advice?
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Why This Matters
Self-employment tax covers the Social Security and Medicare contributions an employer would otherwise split with you, 15.3% total on most net profit. It applies whether your income comes from one client, a dozen freelance gigs, or content creation across several platforms, since the tax is based on your total net profit, not how many sources it came from.
How to Use It
- 1Enter your net profit (income after business expenses), not gross revenue
- 2Enter any W-2 wages if you also have a day job, since that affects your Social Security wage base
- 3Check the Additional Medicare Tax threshold based on your filing status
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