Self-Employment Calculator

Calculate take-home pay with self-employment tax (15.3%). Perfect for freelancers, contractors, and gig workers who pay both employer and employee portions of Social Security and Medicare.

Self-Employment Calculator

UNIQUE

Calculate take-home pay with self-employment tax (15.3%). Perfect for freelancers and contractors.

Expert Insight: As a self-employed worker, you pay both employer and employee portions of Social Security and Medicare (15.3% total). This calculator shows your true take-home pay.

Mileage, home office, equipment, supplies, etc.

Self-Employed Financial Tips

  • Self-employed workers pay 15.3% in self-employment tax (vs. 7.65% for W-2 employees)
  • Quarterly estimated tax payments are due: April 15, June 16, September 15, and January 15 (2025: April 15, June 16, September 15, January 15, 2026)
  • Track all business expenses - they reduce your taxable income and save you money
  • Keep detailed records of income from all sources (Uber, freelance, side gigs)
  • Consider opening a separate business bank account to track income and expenses easily
  • Set aside 25-30% of income for taxes to avoid surprises at tax time