Self-Employment Tax Calculator
Self-employment tax calculator — estimate US Schedule SE tax (Social Security + Medicare), deductible half, and quarterly set-aside. Free for freelancers.
Disclaimer: This tool provides estimates for informational purposes only and does not constitute financial, tax, or legal advice. Results may vary based on your specific circumstances. Always consult a qualified professional before making financial decisions.
This self-employment tax calculator helps US freelancers and independent contractors estimate their Schedule SE tax obligation and figure out how much to set aside for quarterly estimated payments. Self-employed individuals pay both the employee and employer portions of Social Security and Medicare taxes — a combined rate of 15.3% on net earnings — on top of regular income tax. Many people discover this for the first time when they file their taxes and face a larger-than-expected bill.
Enter your expected annual net self-employment income (gross revenue minus deductible business expenses), choose your filing status, and the calculator shows your SE tax, the income tax deduction you get for half of it (which lowers your taxable income), your estimated federal income tax, and your suggested quarterly estimated tax payment amount.
The SE tax rate breaks down as 12.4% for Social Security (applied up to the annual wage base, which is $168,600 for 2024) and 2.9% for Medicare on all net earnings. Above $200,000 in income (single filers) or $250,000 (married filing jointly), an additional 0.9% Additional Medicare Tax applies.
The calculator is not a replacement for tax software or a CPA, but it is the fastest way to get a ballpark estimate when you start a new freelance engagement or your income changes significantly mid-year. Use it at the start of the year to set your quarterly payment amounts, and recalibrate whenever a major project changes your expected annual income.
Quarterly estimated tax payments are due April 15, June 15, September 15, and January 15. Underpaying by more than $1,000 may result in an underpayment penalty, so it is better to slightly overpay and receive a refund than to be caught short at tax time.
Frequently Asked Questions
- Is there a free self-employment tax calculator?
Yes. This self-employment tax calculator is completely free — no signup, no subscription, and no account required. Just enter your expected net self-employment income and filing status to get your SE tax estimate and suggested quarterly payments.
- How is self-employment tax calculated?
Self-employment tax is 15.3% of your net self-employment earnings — 12.4% for Social Security (up to the annual wage base) and 2.9% for Medicare. You can also deduct half of the SE tax from your gross income when calculating your income tax, which slightly reduces the total burden.
- Does this include federal income tax or just self-employment tax?
The calculator focuses on Schedule SE self-employment tax and shows a federal income tax estimate based on the standard deduction and your filing status. For a complete tax picture including state taxes, itemized deductions, and credits, use dedicated tax software or a CPA.
- When are quarterly estimated payments due?
Quarterly deadlines are typically April 15, June 15, September 15, and January 15. If any date falls on a weekend or federal holiday, the due date shifts to the next business day. The tool notes current-year deadlines based on standard IRS calendar dates.
- Do I owe self-employment tax on all my freelance income?
SE tax applies to net self-employment income above $400. Net means after deducting ordinary business expenses from gross revenue. If you earned less than $400 net from all self-employment activities in the year, you do not owe SE tax for that year.
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