Social Security and Medicare Tax Estimator

Social Security and Medicare Tax Estimator

This calculator estimates the Social Security and Medicare taxes payable by you on your wages as an employee, the Social Security and Medicare taxes payable on your self-employment income, the portion of your self-employment tax that is deductible on your federal income tax return, and the Medicare contribution tax payable on your net investment income. If you select a tax-filing status of married filing jointly, these calculations are made for both you and your spouse.

Year
Tax-Filing Status
"Your Spouse" entries used only if tax-filing status is married filing jointly.

Gross Income (modified)
Enter total income that is subject to income tax. If you are a citizen or resident of the United States living abroad, include the foreign earned income here that is generally excludable from gross income for income tax purposes.
Adjustments to Income (modified)
Enter total amount of above-the-line deductions (e.g., alimony paid, IRA deduction), except do not include the deductible part of the self-employment tax--it will be calculated.
Net Investment Income
Enter the amount of your net investment income (in general, taxable interest, dividends, income from annuities, royalties, rents, capital gains, income from a passive activity, and income from a business that trades financial instruments or commodities, as offset by income tax deductions allocable to such investment income).

	You	Your Spouse
Social Security/Medicare Wages as Employee
Enter the amount of your wages subject to Social Security and Medicare tax. Enter the full amount, even if in excess of the Social Security tax wage/income limit (Medicare tax applies to full amount).
Self-employment Income
Enter the amount of your self-employment income for the year. Do not reduce it by the employer portion of the self-employment tax. That amount will be calculated and an adjustment made. Enter the full amount, even if in excess of the Social Security tax wage/income limit (Medicare tax applies to full amount).

If you select a tax-filing status of married filing jointly, the inputs for both you and your spouse are used and Social Security tax and Medicare tax are calculated for both you and your spouse. If you select any other filing status, the "Your Spouse" inputs are not used.

The calculator reduces the self-employment income entered by the employer portion of the self-employment tax by multiplying the income by 92.35%. If the result is less than $400, the calculator assumes the self-employment income is not subject to tax.

Social Security wages and self-employment income above an annually inflation-adjusted limit are not subject to Social Security tax (but are subject to Medicare tax). Social Security wages reduce the limit for self-employment income.

This calculator includes the additional 0.9% Medicare tax on Social Security wages and self-employment income in excess of a threshold based on your tax-filing status.

This calculator includes the 3.8% Medicare contribution tax on the lesser of (a) net investment income, or (b) modified adjusted gross income exceeding a threshold based on your tax filing status.

This calculator estimates the income tax deductible part of self-employment tax (an adjustment to income) as equal to one-half of Social Security tax and one-half of Medicare tax other than the additional tax on certain high-wage earners.