Self-employment tax calculator
An estimate of the federal tax on a year of self-employed profit: self-employment tax, income tax, and what share of every payment the two add up to.
What the business took in, less its expenses.
Enter the federal rates to see a result. The fields start empty because these are the government’s figures to publish, not ours, and we have not yet checked them against the source ourselves. They are on IRS — Topic no. 554, Self-employment tax.
Federal rates
Net earnings as a share of profit, on IRS Topic 554.
Both halves, on IRS Topic 554. It stops at $184,500 of earnings.
Both halves, on IRS Topic 554.
The qualified business income deduction, on the IRS page for it. Enter 0 to leave it out.
Questions
- Why is it not simply the headline rate times what I earned?
- Two reasons. The tax is charged on a share of your profit, not all of it, and half of the tax is then taken off your income before income tax is worked out. The calculator shows both steps.
- Is the quarterly figure what I should pay the IRS each quarter?
- No. It is the year's estimate divided by four, which is a way to see the size of it. The IRS has its own rules for how much must be paid by each date and when a penalty applies, and they depend on last year's tax as well as this year's.
- Does this include state tax?
- No. It is federal tax only. If your state taxes income, the real total is higher.
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