Self-Employment Tax Calculator
Gross Self-Employment Income
Business Expenses
Self-employment tax covers Social Security and Medicare for freelancers who pay both employee and employer portions. In the UK, Class 2 and Class 4 NI applies.
- 1US: SE tax = Net profit × 15.3% (SS 12.4% + Medicare 2.9%)
- 2Deduct half of SE tax from taxable income
- 3UK Class 4 NI: 9% on profits £12,570–£50,270
- 4Quarterly estimated payments required in the US
US: $80,000 net self-employment profit=SE tax ≈ $11,304; deduct $5,652 from taxable income
| Component | Rate | Cap |
|---|---|---|
| Social Security | 12.4% | $168,600 |
| Medicare | 2.9% | No cap |
| Total | 15.3% | On net earnings |
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