Florida Self-Employment Tax Calculator (2023)

1. How much is the self employment tax for Florida?

The Florida self employment tax is 15.3%, divided into two parts. The first 12.4% is for Social Security (old-age, survivors, and disability insurance) and the second 2.9% is for Medicare or hospital insurance.

2. How much do I owe in self employment tax to the government?

The Florida self employment tax is a set amount depending on the tax year. For 2020, the first $137,700 of your net earnings will be subject to the Social Security portion. All your combined net earnings are subject to the 2.9% Medicare part. There are differences if your spouse is your partner, and if your spouse is your employee, you must pay Social Security and Medicare taxes for him or her.

3. When do I have to pay taxes?

You must pay taxes on income, including self-employment tax, by making quarterly payments by their due date:

• April 15th
• June 15th
• September 15th
• January 15th

Read here for more information on how to file quarterly tax payments.

4. What forms do I need to file taxes?

You will use Form 1040-ES, Estimated Tax for Individuals, and your prior year’s tax return. If this is your first year being self-employed, you estimate the amount of income you expect to earn for the year.