What is self-employment tax?
Self-employment tax is the Social Security and Medicare tax for self-employed individuals. Unlike employees who split these taxes with their employer, self-employed people pay both portions (15.3% total).
Calculate your SE tax, deductions, and quarterly estimated payments for Schedule C and 1099 income.
If you're a freelancer, contractor, or small business owner, you're responsible for paying self-employment tax in addition to income tax. This calculator helps you understand your SE tax obligation.
$0 per quarter
Start with gross revenue minus business expenses.
Only 92.35% of net income is subject to SE tax.
Apply 15.3% rate (12.4% SS + 2.9% Medicare).
Deduct 50% of SE tax from your income tax.
NexGen Taxes specializes in helping self-employed individuals minimize their tax burden legally.
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