Calculate the self-employment tax (SE tax) you owe on net earnings from self-employment. This covers your Social Security and Medicare obligations as both employer and employee, and shows the deductible portion.
Gross self-employment income minus business expenses (Schedule C profit).
If you also have a W-2 job, enter wages already taxed for Social Security (2024 limit: 168,600).
Additional 0.9% Medicare tax on SE income above 200K (single) or 250K (MFJ).
Self-employed individuals pay both the employer and employee share of FICA taxes, totaling 15.3%. The taxable base is 92.35% of net earnings (to simulate the employer deduction). An additional 0.9% Medicare surtax applies above 200,000 (single) or 250,000 (married filing jointly). Half of SE tax is deductible on your income tax return.
Estimate your total income tax based on gross income and deductions.
Compute take-home pay from gross salary with all withholdings.
Estimate tax on investment profits using short-term or long-term rates.
Add or remove VAT from any price with a reverse-calculation option.
Compute GST-inclusive or GST-exclusive prices with intra-state splits.
Estimate annual property tax from assessed value and millage rate.
