Estimated Tax Calculator

Formatting only. This does not change the calculation.
Business income after deducting business expenses, before the SE tax deduction.
These use up part of the Social Security wage base before SE income does.
Self-employment tax
11,303.64
Self-Employment Tax Calculator
Social Security portion
9,161.12
Medicare portion
2,142.52
Additional Medicare
0
Net earnings subject to SE tax
73,880
Deductible half of SE tax
5,651.82
Estimated quarterly payment
2,825.91
Effective SE tax rate
14.13 %
Worked out from IRS Schedule SE (Form 1040), Self-Employment Tax and 4 other sources.
An estimate. Confirm with a tax professional before making estimated payments.

How this is worked out

5 steps
  1. Net earnings subject to SE tax = 80000 x 0.9235 = 73880
  2. The full 176100 Social Security base is available.
  3. Social Security portion at 12.4% = 9161.12
  4. Medicare portion at 2.9% = 2142.52
  5. Total self-employment tax = 11303.64; half of the regular portion (5651.82) is deductible.

Results are general information, not financial, tax, legal, medical or engineering advice.