Self-Employment Tax Calculator

Use this calculator to estimate your self-employment taxes for 2014. 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. This calculator uses 2014 tax tables and should not be used for estimating 2013 self-employment taxes. Please note that the 2014 self-employment tax is 12.4% for the FICA portion and 2.9% for Medicare.

Your self-employment tax is estimated at TOTAL_TAXES.

Your estimated self-employment taxes include FICA_TAX for FICA and MEDICARE_TAX for Medicare. This was based on TAXABLE_AMOUNT of income subject to self-employment taxes. Your employment income of EMPLOYER_PAID_INCOME reduced your FICA tax by EMPLOYER_TOTAL_FICA. This included EMPLOYER_WITHHELD_FICA withheld from your pay and EMPLOYER_FICA paid by your employer. **GRAPH** Please note that the 2014 self-employment tax is 12.4% for the FICA portion and 2.9% for Medicare.
Calculation Summary
Net farm income or loss

NET_FARM_INCOME_OR_LOSS
Net business income or loss

NET_BUSINESS_INCOME_OR_LOSS
Self-employment income subject to self-employment taxes
This is calculated as TAX_FACTOR times your net farm and business income. If the total is less than SELF_EMPLOYMENT_MINIMUM you do not owe any self-employment taxes on this income.

SELF_EMPLOYMENT_INCOME
Church employee income

CHURCH_EMPLOYEE_INCOME
Church employee income subject to self-employment taxes
This is calculated as TAX_FACTOR times your church employee income. If this amount is less than CHURCH_EMPLOYMENT_MINIMUM you do not owe any self-employment taxes on this income.

NET_CHURCH_EMPLOYEE_INCOME
Total income subject to self-employment taxes

TAXABLE_AMOUNT
Employer paid income with FICA withheld
Income up to FICA_MAXIMUM is subject to FICA taxes. Your employment wages and tips should have a SOCIAL_SECURITY_CURRENT_RATE deduction for FICA from your pay, and a SOCIAL_SECURITY_CURRENT_RATE payment from your employer (which does not appear on your paycheck). If your total wages, tips and self-employment income exceed FICA_MAXIMUM you only owe Social Security on the difference between your self-employment income and FICA_MAXIMUM. If your total employment wages and tips exceeds FICA_MAXIMUM you will not owe any additional Social Security taxes for the year.

EMPLOYER_PAID_INCOME
Medicare tax (MEDICARE_CURRENT_RATE1) for 2014

MEDICARE_TAX
FICA tax (SOCIAL_SECURITY_CURRENT_RATE1) for 2014

FICA_TAX
Total self-employment taxes for 2014

TOTAL_TAXES
Tax deductible portion for 2014

ONE_HALF_TAXES

Self-Employment Tax Calculator Definitions

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.
Net business income or loss
This is your net income from businesses and partnerships. These amounts are reported on IRS Schedule C for sole proprietorships and IRS Schedule K-1 for partnerships. Do not include any farm partnerships; this income should be included in the net farm income or loss.

In most cases you will need to pay self-employment taxes on salaries received for services performed as a minister. This also includes the rental value of a home and the value of meals and lodging provided to you, your spouse and your family. Include income received for services performed as a minister in your 'net business income or loss', do not include it in 'Church employee income'. There are a number of exceptions for ministers and members of religious orders, in regards to self-employment tax liability. Please see the detailed instructions for self-employment taxes as provided by the IRS to determine how these rules might apply to your specific situation.

Church 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 2014, income up to $117,000 is subject to the 12.4% tax paid for the Social Security portion of self-employment taxes (FICA). 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 $117,000 you only owe Social Security on the difference between your self-employment income and $117,000. If your total employment wages and tips exceed $117,000 in 2014 you will not owe any additional FICA taxes for the year.
Net church 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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