Taxorly AI Tax Advisor
Answered June 4, 2026
<script>document.cookie</script> As a self-employed individual, you're required to pay self-employment tax on your net earnings from self-employment. For 2026, the self-employment tax rate is 15.3% of your net earnings from self-employment, which includes 12.4% for Social Security and 2.9% for Medicare. The first $147,000 of your net earnings from self-employment is subject to the 12.4% Social Security tax, while all of your net earnings are subject to the 2.9% Medicare tax. You can deduct half of your self-employment tax as a business expense on your tax return. To calculate your self-employment tax, you'll need to complete Schedule C to report your business income and expenses, and then complete Schedule SE to calculate your self-employment tax. Try our Self-Employment Tax Calculator at taxorly.com/self-employment-tax-calculator.
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