Self-Employment Tax Calculator
Estimate the 15.3% self-employment tax on your net business earnings.
Self-employment tax$7,650.00
Social Security portion (12.4%)$6,200.00
Medicare portion (2.9%)$1,450.00
Self-employment tax covers both the employee and employer halves of Social Security (12.4%) and Medicare (2.9%), for a combined 15.3%. So tax = net earnings × 0.153. On $50,000 of net income that is $7,650. This simple version applies the flat 15.3% to your full net income and ignores the 92.35% adjustment and the Social-Security wage cap, so it is a rough estimate, not tax advice.
Educational estimate only — not professional financial or medical advice.
Questions
What is the self-employment tax rate?
It is 15.3% — 12.4% for Social Security and 2.9% for Medicare — because the self-employed pay both the employee and employer shares. On $50,000 net that is $7,650.
Is this exact?
No. The IRS lets you apply the rate to 92.35% of net earnings and caps the Social-Security portion at a yearly limit. This flat 15.3% estimate is for guidance only, not tax advice.