Self-Employment Tax Calculator

Calculate your self-employment tax (Social Security + Medicare), income tax, and quarterly estimated payments. See the deductible half of SE tax, compare effective rates to W-2 employment, and plan your quarterly payment schedule.

Gross Self-Employment Income ($)

$0$500,000

Business Expenses ($)

$0$120,000

Filing Status

Other Income (W-2, etc.) ($)

Wages from employment (affects SS tax cap)

Tax Deduction

Total Federal Tax

$24,687.53

25.99% effective rate | Single

SE Tax: $13,423.07Income Tax: $11,264.46

Net SE Income

$95,000.00

SE Tax (15.3%)

$13,423.07

Quarterly Payment

$6,171.88

Effective Rate

25.99%

Self-Employment Tax Breakdown

Gross SE Income$120,000.00

Business Expenses-$25,000.00

Net SE Income$95,000.00

SE Tax Base (92.35% of net)$87,732.50

Social Security Tax (12.4%)$10,878.83

Medicare Tax (2.9%)$2,544.24

Total Self-Employment Tax$13,423.07

Deductible Half of SE Tax-$6,711.54

Income Tax Breakdown

Net SE Income+$95,000.00

Deductible Half of SE Tax-$6,711.54

Adjusted Gross Income (AGI)$88,288.46

Standard Deduction-$14,600.00

Taxable Income$73,688.46

10%

$1,160

12%

$4,266

22%

$5,838

Federal Income Tax$11,264.46

Total Tax Summary

Self-Employment Tax$13,423.07

Federal Income Tax$11,264.46

Total Federal Tax$24,687.53

Effective Tax Rate25.99%

Take-Home (After All Federal Taxes)$70,312.47

Quarterly Estimated Tax Payments

Self-employed individuals must pay estimated taxes quarterly. Each payment covers roughly 25% of your total annual tax liability.

Quarter	Income Period	Due Date	Payment
Q1	Jan 1 - Mar 31	April 15, 2025	$6,171.88
Q2	Apr 1 - May 31	June 16, 2025	$6,171.88
Q3	Jun 1 - Aug 31	September 15, 2025	$6,171.88
Q4	Sep 1 - Dec 31	January 15, 2026	$6,171.88
Annual Total			$24,687.53

Penalty Warning

The IRS may charge an underpayment penalty if you do not pay at least 90% of your current year tax or 100% of your prior year tax (110% if prior year AGI exceeded $150,000) through estimated payments and withholding.

Self-Employed vs. Equivalent W-2 Salary

Comparing your SE income of $95,000 to the same amount earned as a W-2 employee (not including employer FICA).

Self-Employed

Net SE Income

$95,000.00

SE Tax (Both Halves)

-$13,423.07

Income Tax

-$11,264.46

Total Tax

$24,687.53

Take-Home

$70,312.47

W-2 Employee

Gross Salary

$95,000.00

Employee FICA (7.65%)

-$7,267.50

Income Tax

-$12,741.00

Total Tax (Employee Share)

$20,008.50

Take-Home

$74,991.50

Key Differences

Extra SE Tax Cost

$4,679.03

Employer FICA (Hidden Cost)

$7,267.50

True Total FICA (Both)

$14,535.00

As a self-employed individual, you pay both the employer and employee portions of FICA (15.3% total vs. 7.65% for a W-2 employee). However, you can deduct the employer-equivalent portion (half of SE tax) from your AGI, which partially offsets the additional cost.

Save your results

Try Retirement Calculator Compare Loan Rates See Tax Brackets

Compare Financial Products

See personalized rates and offers from top providers.

Compare Now

Sponsored · We may earn a commission at no cost to you

How to Use Self-Employment Tax Calculator

1Enter your gross self-employment income.
2Deduct business expenses.
3Select your filing status and other income.
4View SE tax, income tax, and quarterly payment amounts.

Frequently Asked Questions

How is self-employment tax calculated?▾

SE tax is 15.3% on 92.35% of net self-employment income: 12.4% for Social Security (up to $168,600 in 2024) and 2.9% for Medicare. An additional 0.9% Medicare tax applies on income over $200,000.

Can I deduct half of self-employment tax?▾

Yes, you can deduct the employer-equivalent portion (half) of your SE tax when calculating adjusted gross income. This reduces your income tax but not the SE tax itself.

When are quarterly estimated payments due?▾

Quarterly payments are due: April 15 (Q1), June 15 (Q2), September 15 (Q3), and January 15 of the following year (Q4). You may owe penalties if you underpay estimated taxes.

Get weekly tips for Self-Employment Tax Calculator & more

No spam. Unsubscribe anytime.

About Self-Employment Tax Calculator

NexTool's Self-Employment Tax Calculator is completely free to use with no sign-up required. Your data is processed directly in your browser and never sent to our servers, ensuring complete privacy and instant results.