The formula
SE tax = 92.35% × net profit × 15.3% (12.4% Social Security up to the wage base + 2.9% Medicare)
Calculations run in your browser. Displayed values are rounded, while intermediate calculations keep their full precision.
What this estimate assumes
- Assumes net profit reported on Schedule C, not gross revenue.
- The Social Security portion is capped at the annual wage base (US$184,500 for 2026, approximate — confirm the current figure with the SSA); Medicare has no cap.
- Excludes the Additional Medicare Tax (0.9%) above US$200,000 (single) or US$250,000 (married filing jointly), and excludes federal/state income tax.
A quick reality check
US$80,000 net profit
Net earnings for SE tax are US$73,880 (92.35% of profit). Total self-employment tax is about US$11,304, leaving about US$68,696 before income tax.
Common questions
Is this my total tax bill?
No. This is only the SECA self-employment tax. You still owe federal and, if applicable, state income tax on your net profit — though half of the SE tax is deductible from taxable income.