Side Hustle Tax Calculator
Free tools to calculate your self-employment taxes, estimate quarterly payments, and find every deduction you deserve.
Self-Employment Tax Essentials
Self-employment tax is 15.3% of your net earnings — covering both Social Security (12.4%) and Medicare (2.9%). Unlike W-2 employees, you pay both the employer and employee portions.
The good news? You can deduct half of this tax on your federal return, and many business expenses can reduce your taxable income. Use our free calculator below to estimate your exact tax liability.
Key Takeaways
- Self-employment tax applies to net earnings over $400 per year
- You must pay quarterly estimated taxes if you owe $1,000+ annually
- Common deductions include home office, mileage, and health insurance
- The Social Security wage base limit is $168,600 for 2024
- File Schedule SE with your Form 1040 to calculate your exact tax
Self-Employment Tax Calculator
Self-Employment Tax (15.3%)
$0.00
Effective Tax Rate
0.00%
Net Income After Tax
$0.00
Note: Self-employment tax rate is 15.3% (12.4% for Social Security + 2.9% for Medicare).
Social Security tax applies only up to the wage base limit ($168,600 for 2024).
Essential Tax Guides
Self-Employment Tax Calculator: Complete Guide for 2024-2025
Calculate your self-employment tax instantly with our free calculator. Learn about SE tax rates, deductions, and how to minimize your tax burden as a freelancer or gig worker.
1099 vs W-2 Take-Home Pay: Which is Better for You?
Compare your actual take-home pay between 1099 contractor and W-2 employee status. Includes tax implications, benefits comparison, and real-world calculations.
Quarterly Estimated Tax Calculator: Complete Guide for 2024-2025
Learn how to calculate and pay quarterly estimated taxes as a freelancer or self-employed individual. Includes due dates, safe harbor rules, and step-by-step instructions.
Schedule C Deductions Checklist: Complete Guide for 2024-2025
Maximize your tax deductions with our comprehensive Schedule C checklist. Learn what expenses are deductible and how to document them properly to reduce your tax burden.
Home Office Deduction Calculator: Simplified vs Regular Method
Calculate your home office deduction using both the simplified and regular methods. Learn which method saves you more and how to qualify for this valuable tax break.
Want More Tax-Saving Tips?
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