Self-Employment Tax Calculator
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Self-Employment Tax$10,597.16
Deductible Amount (half of SE tax)$5,298.58
Social Security Tax$8,588.55
Medicare Tax$2,008.61
SE Effective Rate0.14%
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Frequently Asked Questions
What is self-employment tax?
Self-employment tax is 15.3% of net self-employment income: 12.4% Social Security + 2.9% Medicare. As a sole proprietor, you pay both the employer and employee portions. You can deduct half (7.65%) from your income taxes.
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