Need context? Read our income and taxes guide for assumptions and strategy.
Read the guide| Tax Type | Amount | Rate |
|---|---|---|
| Social Security | $0 | 12.4% |
| Medicare | $0 | 2.9% |
| Federal Income Tax | $0 | - |
| State Income Tax | $0 | - |
| Total Annual Tax | $0 | 0% |
| Deduction | Amount |
|---|
Typically due: Apr 15, Jun 15, Sep 15, Jan 15 (dates can shift for weekends or holidays).
Self-employment tax planning guide
This calculator estimates SE tax, federal tax, and a simplified state tax to help you plan quarterly payments. Use it as a starting point and verify current rules.
Net earnings
Start with gross income minus business expenses to estimate taxable net earnings.
Tax layers
SE tax covers Social Security and Medicare, then income taxes apply on top.
Quarterly payments
Estimated taxes are paid through quarterly due dates throughout the year.
What this calculator includes
- SE tax on 92.35% of net earnings, including the wage base cap.
- Additional Medicare tax above the threshold for your filing status.
- Simplified federal brackets and state tax estimates.
- Deductions for half of SE tax, retirement contributions, and health insurance premiums.
What it does not include
- Itemized deductions, tax credits, or Qualified Business Income (QBI) deduction.
- Local taxes, self-employment surtaxes, or state-specific brackets.
- Phaseouts, alternative minimum tax, or special case rules.
Ways to improve accuracy
- Update assumptions for the latest IRS wage base and brackets.
- Use your actual state tax rules instead of the simplified estimate.
- Account for credits and deductions you regularly claim.
Self-employment tax calculator FAQ
What is self-employment tax?
Self-employment tax covers Social Security and Medicare for people who work for themselves. You pay both the employer and employee portions.
When are quarterly payments due?
Estimated tax payments are generally due April 15, June 15, September 15, and January 15. Dates can shift for weekends or holidays.
Can I reduce my SE tax?
You can reduce taxable income through eligible business deductions, retirement contributions, and health insurance premiums. You can also deduct half of SE tax from income tax.
How accurate is this calculator?
This is a simplified estimate and does not cover every rule or deduction. Use IRS guidance or a tax professional for precise calculations.