Self-Employment Tax Calculator: Estimate SE Tax on Your Side Hustle Income

Self-employment tax is 15.3% of net earnings: 12.4% for Social Security (capped at $168,600) and 2.9% for Medicare (uncapped).

Unlike W-2 employees, self-employed workers pay the full amount themselves and can deduct half of SE tax on their income tax return.

Side gigs and freelance work trigger SE tax if net earnings exceed $400 annually. Plan for this tax throughout the year to avoid a surprise bill.

Use a side-hustle calculator to estimate tax liability and determine how much income you need to clear after SE tax, income tax, and business expenses.