Being Freelancer, Finances and Taxes, Self-Employed, Taxes

Self Employed Calculator

Dear Freelancers: Use this Self-Employment calculator to estimate your self-employment taxes. Normally these taxes are withheld by your employer. However, if you are self-employed, operate a farm or are a church employee you may owe self-employment taxes. Please note that the self-employment tax is 12.4% for the FICA portion and 2.9% for Medicare. It is actually kind of important that you use this calculator several times a year — maybe ever quarter – to stay on top of how much you will owe Uncle Sam and Aunt Samantha.

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