US self-employment tax calculator
Calculate US self-employment tax (Schedule SE 15.3% FICA), Social Security wage base limit, Medicare tax and 50% above-the-line deduction.
In your browser
Subject to $168,600 wage ceiling
Applies to all net earnings
Deductible on Form 1040 Schedule 1
Before ordinary income tax
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About this tool
Calculate your US self-employment tax under Schedule SE (Form 1040). Accounts for the 92.35% net earnings multiplier, the 12.4% Social Security tax up to the statutory $168,600 wage ceiling, the 2.9% un-capped Medicare tax, 0.9% Additional Medicare Tax over $200k, and computes your 50% above-the-line AGI income tax deduction.
How to use it
- 1 Enter your net freelance or small business profit (gross revenue minus business expenses).
- 2 Enter any W-2 wage income from employment to offset against the Social Security wage cap.
- 3 Review your Social Security tax, Medicare tax, total SE tax liability, and your 50% tax deduction on Form 1040.
Questions
What is the self-employment tax rate in the US?
The federal self-employment tax rate is 15.3% (12.4% for Social Security and 2.9% for Medicare) applied to 92.35% of your net business profit.
Can I deduct self-employment tax on my tax return?
Yes. The IRS allows self-employed individuals to deduct 50% of their total self-employment tax as an above-the-line deduction on Schedule 1 (Form 1040), which reduces your adjusted gross income.
Is my data uploaded?
No. This tool runs in your browser, so your text and files never reach our server.
Is this tool free?
Yes. It’s free to use with no sign-up and no limits for normal use.
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