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SESK: Stuff Everyone Should Know · sesk.info/biz-self-employment-tax-parts

The 15.3% self-employment tax is made of which two parts?

12.4% Social Security plus 2.9% Medicare.

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  1. 12.4% Social Security plus 2.9% Medicare ✔
  2. 10% income tax plus 5.3% state tax
  3. 7.65% federal plus 7.65% state

Why: The IRS splits self-employment tax into 12.4% for Social Security and 2.9% for Medicare. These are the same programs paid through paycheck withholding for employees. It is a federal tax, not a state one.

Huh, didn't know that: Above the yearly Social Security wage base, the 2.9% Medicare part continues, and an extra 0.9% Medicare tax may apply above separate thresholds.

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References

Answer: 12.4% Social Security plus 2.9% Medicare. The IRS splits self-employment tax into 12.4% for Social Security and 2.9% for Medicare. These are the same programs paid through paycheck withholding for employees. It is a federal tax, not a state one.

  1. IRS: Self-employment tax (Social Security and Medicare taxes) www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax-social-security-and-medicare-taxes
    12.4% for social security (old-age, survivors, and disability insurance) and 2.9% for Medicare (hospital insurance).
    Checked 2026-10-11.

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