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Use this Self-Employment Tax Calculator to estimate your tax bill or refund. This tool uses the latest information provided by the IRS including annual changes and those due to tax reform. Gather your 2019 tax documents including 1099s, business receipts, bank records, invoice payments, and related documents to fill in the drop down sections. Explanations for each question are provided below in the chart. If you have questions about your self-employment taxes a Tax Pro can help.
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Self Employment Tax Calculator
Small business owners, contractors, freelancers, gig workers and others whose net profit is greater than $400 are required to pay self-employment tax. Self-employed workers are taxed at 15.3% of the net profit. This percentage is a combination of Social Security and Medicare tax.
Use this calculator to estimate your self-employment taxes. Normally these taxes are withheld by your employer. However, if you are self-employed, operate a farm or are a church employee you may owe self-employment taxes. Please note that the self-employment tax is 12.4% for the FICA portion and 2.9% for Medicare.
How to calculate your tax refund
For the tax calculators below, be sure to have your 1099 or W-2 form handy and be ready to answer a few basic questions about your filing status, income, deductions, and credits.
How do I File Taxes if I’m Self-Employed?
Are you self-employed? Here's how to determine if you are self-employed, what you can deduct from your self-employment income, and how self-employment affects your tax return.
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Home Business and Office Tax Deductions
See if you qualify for any tax breaks for operating a business from your home.
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How a Second Job or Side Gig Affects Your Taxes
Call it what you will: side job, side hustle, freelance gig – they can all affect your taxes and tax status. Find out how.
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