MCPCalc

Self-Employment Tax Calculator

Calculate self-employment tax (Social Security + Medicare) on net self-employment income.

Scratchpad (not saved)

$

Net profit from your business (revenue minus expenses)

$

W-2 wages from another job (affects SS tax cap)

What This Calculator Does

Estimate payroll-style self-employment tax on contractor income so you can reserve cash before filing deadlines.

It combines Net Self-Employment Income, Other W-2 Wages, Filing Status to estimate Total Self-Employment Tax, Social Security Tax, Medicare Tax.

Formula & Method

Core equations: Self-employment tax base: SE_{base} = \text{Net Income} \times 0.9235 Total SE tax: T_{SE} = \min(SE_{base}, 168600) \times 0.124 + SE_{base} \times 0.029 The deductible portion is half the SE tax: D = T_{SE} / 2. Additional Medicare of 0.9% applies to combined earnings over \$200,000. Inputs are applied in base units, then derived metrics are computed from the same equations and rounded for display.

Notation used in the formulas: R = Total Self-Employment Tax; x_{1} = Net Self-Employment Income; x_{2} = Other W-2 Wages; x_{3} = Filing Status.

Method summary: inputs are normalized to consistent units, core equations are evaluated, then secondary values are derived and rounded for display.

Use this for quarterly planning if you receive 1099 income or run a sole-proprietor business.

Inputs Used

  • Net Self-Employment Income: Net profit from your business (revenue minus expenses)
  • Other W-2 Wages: W-2 wages from another job (affects SS tax cap)
  • Filing Status: Used directly in the calculation.

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