Self-Employment Tax Calculator
About the Self-Employment Tax Calculator
The Self-Employment Tax Calculator helps freelancers, independent contractors, and small business owners estimate their self-employment tax based on annual net earnings. By entering your income and tax rate, you can quickly see how much you may owe for Social Security and Medicare contributions.
This calculator is especially useful for planning quarterly tax payments, managing cash flow, and avoiding unexpected tax bills. Understanding your self-employment tax obligation allows you to budget more accurately and maintain financial stability throughout the year.
Self-Employment Tax Calculator FAQs
What is self-employment tax?
Self-employment tax covers Social Security and Medicare contributions for individuals who work for themselves and do not have an employer withholding payroll taxes.
How is self-employment tax calculated?
It is calculated by multiplying your net earnings by the applicable self-employment tax rate, commonly 15.3 percent in the U.S.
Does this calculator include income tax?
No. This tool estimates only self-employment tax. Federal and state income taxes are calculated separately.
Who should use a self-employment tax calculator?
Freelancers, gig workers, contractors, and small business owners can use this calculator to estimate tax liability and plan ahead.