Self-Employment Tax Calculator
Estimate your self-employment tax, income tax, and suggested quarterly payment from your net freelance or 1099 profit.
Your income
Where your profit goes
How self-employment tax works
When you're a W-2 employee, your employer withholds Social Security and Medicare tax from your paycheck and pays a matching amount itself. As a freelancer or independent contractor, there's no employer to split that bill — the self-employment (SE) tax makes you responsible for both halves, totaling 15.3% of 92.35% of your net profit.
The formula
Half of your SE tax is deductible against your income tax, which this calculator accounts for automatically. The result is an estimate for planning purposes — not tax advice — so confirm your actual liability with a tax professional or the IRS's current forms.
Also useful: Take-Home Pay Estimator and Budget Calculator.
Frequently asked questions
15.3% of 92.35% of your net profit — 12.4% for Social Security (up to the annual wage base) and 2.9% for Medicare, uncapped. This is on top of ordinary federal income tax.
SE tax replaces the Social Security and Medicare taxes an employer would normally split with you as a W-2 employee — as a freelancer you pay both halves yourself. Income tax is separate and applies to your total taxable income.
The IRS expects quarterly estimated payments (typically mid-April, June, September, and January) if you expect to owe $1,000 or more for the year. This tool divides your estimated annual liability by four as a starting point.