Self-Employment Tax
For freelancers, gig workers, and independent contractors.
Your Income Details
$
After business expenses, before taxes
Quarterly Estimated Taxes
$3,148.79
Due Apr 15 · Jun 15 · Sep 15 · Jan 15
Annual take-home income
$37,404.85
Monthly
$3,117.07
Effective rate
25.2%
Total tax
$12,595.15
Self-Employment Tax
15.3% of 92.35% net earnings
$7,064.78
Federal Income Tax
After SE deduction of $3,532.39
$5,530.37
State Tax
0% — Florida
$0.00
Where your income goes
Take-Home 75%
Self-Employment 14%
Federal 11%
State 0%
Note: Consult a tax professional for personalized advice. SE tax deduction and brackets are simplified.
Why is self-employment tax 15.3%? As an employee you only pay half (7.65%) — your employer covers the rest. Self-employed, you pay both sides.
How much should I set aside for taxes? A safe rule of thumb is 25–30% of net income. Use the quarterly figure above to avoid underpayment penalties.