Self Employment Tax Calculator

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Additional Medicare Tax

This calculator does not include any required amounts for the Additional Medicare Tax. This tax applies to a household and not an individual tax payer. Joint filers with over $250,000 in earned income, single filers with over $200,000 in earned income and married persons filing separately with over $125,000 in earned income will owe an additional 0.9% of the amount exceeding these thresholds. These thresholds are not index to inflation. This is paid only by the tax payer, there is no additional employer amount. This additional tax is calculated on your full tax return and while it is directly related to your earned income it is not calculated with your self-employment taxes.

Net Farm Income or Loss

This is your net farm income or loss.This should include both the net farm profit or loss from Schedule F along with any income from farm partnerships.Please note that if your gross farm income is $2,400 or less and your net farm income is $1,733 or less there is a 'Farm Optional Method' for calculating income subject to self-employment taxes.If you qualify for this optional method it may produce a slightly lower income subject to self-employment taxes.This calculator assumes that you will not use the 'Farm Optional Method'. For more information see IRS Schedule SE Part II, Optional Methods to Figure Net Earnings.

Chruch Employee Income

If you have more than $108.28 in church employee income, you will need to pay self-employment taxes on that income. This does not include any income you received as a minister, which was entered above.

Employer Paid Income

Enter your total employment wages and tips that you have been paid where Social Security taxes have been deducted. In 2021, income up to $142,800 were subject to the 12.4% tax paid for the Social Security portion of self-employment taxes (FICA). The IRS has slightly bumped the amount to $147,000. Your employment wages and tips should have a 6.2% deduction for Social Security from your pay, and an additional 6.2% payment from your employer that does not appear on your paycheck. If your total wages, tips and self-employment income exceed $147,000 you only owe Social Security taxes on the difference between your self-employment income and $147,000. If your total employment wages and tips exceed $147,00 in 2022 you will not owe any additional FICA taxes for the year.

Net Chruch Employee Income

This is your total church income subject to self-employment taxes. Like your other self-employment income, this total is calculated by multiplying your church employee income by 92.35%. If this amount is less than $100, you do not owe any self-employment taxes on this income.

Self Employment Income

This is your total income subject to self-employment taxes.This is calculated by taking your total ' net farm income or loss' and ' net business income or loss' and multiplying it by 92.35%. This is done to adjust your net income downward by the total employment tax that would have been paid by an employer, had you not been self-employed. If the result is less than $400.00, you do not owe any self-employment tax on this income.

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