Self-Employment Tax Calculator (Tax Year 2017)
If you are self-employed, operate a farm or are a church employee use this calculator to determine your self-employment taxes for the current tax year.
How the self-employment tax calculator (tax year 2017) works
For 2017 it applies the 15.3% rate to 92.35% of net self-employment earnings — 12.4% Social Security up to the $127,200 wage base and 2.9% Medicare on all of it — and shows the deductible half.
Worked example: with net self-employment income of $90,000, the self-employment tax calculator (tax year 2017) shows 2017 self-employment tax of $12,717.
- Social Security portion (12.4%)
- $10,306
- Medicare portion (2.9%)
- $2,410
- Total SE tax
- $12,717
- Deductible half
- $6,358
| Net self-employment income | 2017 self-employment tax |
|---|---|
| $40,000 | $5,652 |
| $90,000 | $12,717 |
| $160,000 | $20,058 |
| $250,000 | $22,468 |
The formula
2017 SE tax = 12.4% × min(net × 0.9235, $127,200 − W-2 wages) + 2.9% × (net × 0.9235); deduction = half of the SE tax.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.
Questions about the self-employment tax calculator (tax year 2017)
What was the 2017 Social Security wage base?
$127,200, up from $118,500 in 2016. Earnings above it are still subject to the 2.9% Medicare portion, which has no ceiling.
Why 92.35% of net income?
It approximates the employer-share deduction by reducing net earnings by 7.65% before applying the SE tax — so you are not taxed on the employer half you get to deduct.
How do I pay self-employment tax?
Usually through quarterly estimated tax payments, since no employer withholds it for you. Underpaying can trigger penalties, so plan for it across the year.
Is the Self-Employment Tax Calculator (Tax Year 2017) free to use?
Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.