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How this calculator works
Taxable base = 92.35% of profit. Social Security = 12.4% up to the wage base; Medicare = 2.9% on all. Half of the total is deductible for income tax. Additional Medicare tax for high earners is not included.
Frequently asked questions
Is this my total tax?
No — income tax is separate. Many self-employed people make quarterly estimated payments to cover both.