How much is self-employment tax?

Self-employment tax is 15.3% of net profit — 12.4% for Social Security and 2.9% for Medicare. Use our calculator for your exact amount including deductions.

What is the 2026 self-employment tax rate?

The self-employment tax rate is 15.3% on the first $184,500 of net earnings (2026). It consists of 12.4% Social Security and 2.9% Medicare. An additional 0.9% Medicare surtax applies above $200,000 (single).

How do I calculate self-employment tax?

Multiply your net profit by 92.35%, then apply the 15.3% rate. You can deduct 50% of the self-employment tax when calculating your adjusted gross income. Our calculator does this automatically.

Do freelancers pay self-employment tax?

Yes. All self-employed individuals — freelancers, contractors, gig workers, and sole proprietors — must pay self-employment tax if net earnings exceed $400 annually.

What deductions reduce self-employment tax?

Business expenses reduce your net profit and thus your self-employment tax. Common deductions: home office, health insurance, retirement contributions, equipment, vehicle expenses, and professional services.

Free Self-Employment Tax Calculator 2026