Online Calculators > Financial Calculators > Self Employment Tax Calculator

Self Employment Tax Calculator

Self employment tax calculator estimates the tax for self employer.

1099 Tax Calculator

Gross Pay
Self Employment Tax
Social Security

How is self employment tax calculated?

The total self-employment tax is 15.3% including social security tax and medicare tax. To calculate self-employment tax, first, deduct half of the self-employment tax 7.65%, or multiply your self-employment pay by 0.9235, that is the pay we used to calculate self-employment tax.

Then multiply by 12.4% to get the social security tax, multiply by 2.9% to get the Medicare tax. Single filers pay an additional 0.9% in Medicare taxes if income is over $200,000 ($250,000 for married filing jointly).

For example, if your gross pay is $50,000,
$50,000 x 0.9235 = $46,175.
$46,175 x 0.124 = $5,726. (social security tax)
$46,175 x 0.029 = $1,339. (medicare tax)

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