Self-employment tax calculator

Work out roughly what you'll owe on self-employed income — self-employment tax, federal income tax, and what to set aside each quarter. Free, no signup.

How self-employment tax works

If you work for yourself, you pay both halves of Social Security and Medicare — 15.3% on 92.35% of your net profit. An employee splits that with an employer; you don't have one, so it's all yours. That's on top of ordinary income tax.

The good news: half of the self-employment tax is deductible against your income tax, and most self-employed people also qualify for the 20% qualified business income deduction. This calculator applies both.

Why quarterly payments matter

Nobody withholds tax from your income, so the IRS expects payments four times a year. Miss them and you can owe an underpayment penalty even if you pay in full by April. The safest approach is to pay 100% of last year's tax (110% if you earned a lot) — that's the "safe harbor", and it protects you no matter how good this year turns out.

These are estimates to help you set money aside — not tax advice, and not a filing. Rates, brackets and rules change, and your situation may have details we do not know about. Check with a tax professional before you file.