Self-Employment Tax Estimator
Running your own business? Calculate your mandatory FICA insurance contributions and understand the employer-employee tax burden.
FICA for Freelancers
Unlike W-2 workers who share the cost with their employer, self-employed individuals must pay the full 15.3% Social Security and Medicare tax.
Tax Burden Meter
Determine the exact amount you'll owe for Social Security and Medicare as a business owner.
How it Works
Self-employment tax consists of Social Security (12.4%) and Medicare (2.9%) taxes. Standard employees pay half of this, while their employer pays the other half. When you are the employer, the full **15.3%** burden is yours.
However, the IRS only applies this tax to **92.35%** of your net earnings, effectively allowing you to deduct the employer portion from the calculation itself.
Key Thresholds (2026)
Earnings above this limit are not subject to the 12.4% tax.
The 2.9% tax is applied to all income regardless of the amount.
Avoid Underpayment Penalties.
Self-employed individuals are generally required to make **Estimated Tax Payments** every quarter (April, June, September, January). Use our calculator to ensure your quarterly withdrawals are accurate enough to avoid IRS interest charges.