Why Calculate Self-Employment Tax?
See your estimated Social Security and Medicare self-employment tax. Helpful for freelancers and side-hustlers planning quarterly payments. Learn more.
Self-Employment Tax Calculator
What is the Self-Employment Tax?
Self-employment tax consists of Social Security and Medicare taxes for individuals who work for themselves. Employees who receive a W-2 only pay half of the total Social Security (6.2%) and Medicare (1.45%) taxes, while their employer is responsible for paying the other half. Self-employed individuals are responsible for paying both portions of the Social Security (12.4%) and Medicare (2.9%) taxes.
Do I have to pay Self-Employment Tax?
If you (1) are self-employed as a sole proprietorship, an independent contractor or freelancer and (2) earn $400 or more, you may need to pay SE tax. This is true even if you are paid in cash and do not receive a 1099-MISC. Keep in mind, you may be able to offset this income if you have qualifying expenses.
More about Self-Employment Tax Credit
Ask unlimited questions to a credentialed tax expert
Contact us at any step during your return and as often as you life for guidance. Your questions will be answered quickly and accurately
Start with Xpert Assist
More ways to boost your tax filing confidence.
Audit Protection
Add Audit Defense for support in case you get audited. Plus, you’ll have a representative to handle communications with the IRS.
$100k Accuracy Guarantee
We’re so confident our calculations are 100% accurate that we back them up with the highest guarantee in the industry.
Concierge Support
Get help tracking your e-file status and notified of important changes plus support to help fix a rejected return.