Self-employment tax is a tax consisting of Social Security and Medicare taxes primarily for individuals who work for themselves. It is similar to the Social Security and Medicare taxes withheld from the …

You may need to pay self-employment tax if you’re a freelancer, an independent contractor or a small-business owner. Here’s what self-employment tax is, how it works and how you can save.

Nov 7, 2025 · Self-employment tax is a subset of income tax, which covers Social Security and Medicare taxes. Employers typically withhold these two amounts from employees' paychecks.

Jul 20, 2024 · The self-employment tax rate is 15.3%, which includes a 12.4% Social Security tax and a 2.9% Medicare tax on net earnings. This means self-employed individuals carry the full responsibility …

Apr 29, 2025 · Self-employment tax is the tax that a sole proprietor or freelancer must pay to the federal government to fund Medicare and Social Security.

Nov 1, 2025 · You calculate your self-employment tax on Schedule SE and report that amount in the "Other Taxes" section of Form 1040. In this way, the IRS differentiates the SE tax from the income tax.

If you’re self-employed you’ll likely be subject to self-employment tax. Learn more about self-employment tax rate, how to calculate, & pay with H&R Block.

Aug 21, 2025 · The self-employment tax is a tax on people who work for themselves—like independent contractors and small-business owners—and it funds Social Security and Medicare.

Use this Self-Employment Tax Calculator to estimate your tax bill or refund. This tool uses the latest information from the IRS, including annual changes.

Jun 30, 2025 · Home Frequently Asked Questions Topics KA-02471 Must I pay taxes on Social Security benefits? June 30, 2025 · En español You must pay taxes on up to 85% of your Social Security …