Self-Employment Tax Calculator — Formula
## Self-Employment Tax
Self-employed individuals pay both the employer and employee portions of FICA taxes.
**SE Tax = 92.35% of Net Earnings x 15.3%**
- Social Security: 12.4% (up to $168,600 in 2024)
- Medicare: 2.9% (no cap)
- Additional Medicare: 0.9% on earnings over $200,000
You can deduct half of SE tax from your adjusted gross income.
Self-employed individuals pay both the employer and employee portions of FICA taxes.
**SE Tax = 92.35% of Net Earnings x 15.3%**
- Social Security: 12.4% (up to $168,600 in 2024)
- Medicare: 2.9% (no cap)
- Additional Medicare: 0.9% on earnings over $200,000
You can deduct half of SE tax from your adjusted gross income.
Exemplo Resolvido
$80,000 net self-employment income.
- Taxable base = $80,000 x 92.35% = $73,880
- SS = $73,880 x 12.4% = $9,161
- Medicare = $73,880 x 2.9% = $2,143
- Total SE tax = $11,304
- Deductible half = $5,652