Self-Employment · Social Security · Medicare · Quarterly
Revenue minus business expenses (Schedule C profit)
| Component | Rate | Cap |
|---|---|---|
| Social Security | 12.4% | $176,100 (2025) |
| Medicare | 2.9% | No cap |
| Additional Medicare | 0.9% | Over $200K (single) |
| Total SE Tax | 15.3% | On 92.35% of net income |
Self-employed pay BOTH employee and employer portions (employees only pay half).
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | Jan 1 - Mar 31 | April 15 |
| Q2 | Apr 1 - May 31 | June 15 |
| Q3 | Jun 1 - Aug 31 | September 15 |
| Q4 | Sep 1 - Dec 31 | January 15 (next year) |
| Strategy | Savings |
|---|---|
| S-Corp election (if profitable enough) | Save SE tax on distributions |
| Max retirement contributions | SEP-IRA up to $69,000 |
| Deduct half of SE tax | Automatic deduction |
| Home office deduction | $5/sqft up to 300 sqft |
| Health insurance deduction | 100% of premiums |