Self-Employment Tax Calculator
Calculate your SE tax as a freelancer or contractor. Understand Social Security and Medicare taxes.
Self-Employment Tax Basics
What is SE tax? Self-employment tax covers Social Security and Medicare—the same FICA taxes W-2 employees pay, but you pay both halves (15.3% total).
Social Security (12.4%): Applied to net earnings up to $168,600 (2024). This funds your future Social Security benefits.
Medicare (2.9%): No income cap. High earners (over $200K single/$250K married) pay an additional 0.9%.
Deduction: You can deduct half of your SE tax from your adjusted gross income, reducing your income tax.
This calculator provides estimates for educational purposes only.