Self-Employment Tax Calculator
FICA breakdown for freelancers and 1099 contractors
Calculator
Enter Your Self-Employment Income
Enter your net self-employment income (revenue minus business expenses). This calculates SE tax, the deductible half, and your combined tax liability.
Frequently Asked Questions
What is self-employment tax?
Self-employment tax is the combined Social Security (12.4%) and Medicare (2.9%) tax that self-employed people pay. Employees split this with their employer, but the self-employed pay both halves — 15.3% total on 92.35% of net earnings.
Can I deduct half of SE tax?
Yes. The IRS allows you to deduct the employer-equivalent portion (half) of your SE tax from your gross income. This reduces your income tax but not your SE tax itself.
What's the 92.35% factor?
SE tax applies to 92.35% of net earnings, not 100%. This mirrors the fact that employees don't pay FICA on the employer's share of payroll tax. It's a built-in 7.65% reduction.
Self-Employment Tax Calculator for Freelancers
Calculate the 15.3% self-employment tax on your 1099 or freelance income. See the Social Security and Medicare breakdown, the deductible employer-equivalent portion, and your combined federal tax liability.