Self-Employment Income Tax Estimator (US)
How much self-employment tax will I owe?
Your numbers
Result
Estimated SE tax
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How this is calculated
Self-employed sellers owe both the employer and employee halves of Social Security and Medicare. This calculator estimates that SE tax on your net earnings, plus a rough federal income tax at your bracket, to show your true tax bite.
- SE taxable = net earnings x 92.35%
- SE tax = SE taxable x 15.3% (SS + Medicare)
What to make of the number
Self-employed sellers typically owe 15.3% SE tax on net earnings plus their marginal income bracket.
Frequently asked questions
Can I deduct home office?
Yes, if a space is used exclusively for business. The simplified method is $5/sq ft up to 300 sq ft.