Finance Tools
Self-Employment Tax Calculator
Estimate self-employment tax (Social Security + Medicare) based on net profit. Includes the 92.35% net earnings adjustment and optional Social Security wage base cap.
Enter values to estimate self-employment tax.
How to use this self-employment tax calculator
- Enter your net profit (income minus business expenses).
- Choose whether to apply the 92.35% net earnings adjustment (default: on).
- Optionally enter the Social Security wage base cap and wages already subject to Social Security tax.
- Click Calculate to see Social Security tax, Medicare tax, and total self-employment tax.
Example
If your net profit is $80,000 and you apply the 92.35% adjustment:
- Net earnings: $73,880
- Social Security portion (up to cap): calculated on net earnings
- Medicare portion: calculated on net earnings
- Total self-employment tax: Social Security + Medicare
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