CALCULATOR · FREE免费 · Free
Self-Employment Tax Calculator
Enter annual net profit and the Social Security wage base to estimate self-employment tax: 92.35 percent of profit at 15.3 percent, with only Medicare above the wage base.
--Self-employment tax · currency
--Deductible half · currency
--Effective rate · %
Estimates only; verify on site before ordering or building.
Example
| Item | Value | Unit |
|---|---|---|
| Annual net profit | 100000 | currency |
| Social Security wage base | 176100 | currency |
| Self-employment tax | 14129.55 | currency |
| Deductible half | 7064.77 | currency |
| Effective rate | 14.13 | % |
Where people go wrong
- Multiplying all profit by 15.3 percent instead of first applying 92.35 percent.
- Ignoring the wage-base cap, which overstates Social Security at high income.
- Forgetting that half of the tax is deductible.
FAQ
Is self-employment tax the same as income tax?
No. Self-employment tax funds Social Security and Medicare; income tax is separate, though half of the SE tax is deductible.
What if I also have W-2 wages?
W-2 wages already subject to FICA use part of the wage base; subtract those wages from 176,100 before applying the cap.