Georgia Self Employment Tax Calculator (2020)

Last Updated October 6, 2020

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TOTAL TAX
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MEDICARE TAX
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SOCIAL SECURITY TAX
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The calculator is for illustrative purposes only, and should not be considered financial or tax advice.

What You Need to Know About Georgia Self-Employment Tax in 2020

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

The Georgia self employment tax is made up of two parts, for a total of 15.3%. The Social Security portion is 12.4%, which includes social security, old-age, survivors, and disability insurance. The Medicare or hospital insurance portion is 2.9%.

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

The Georgia self employment tax is also paid in two parts. The Social Security amount is applied to an established earnings amount, which in 2020 will be the first $137,000 of your earnings. The Medicare percentage is applied to all your combined net earnings. If you have a partnership with a spouse, or your spouse works for you, there are some different filing requirements.

3. When do I have to pay taxes?

You are required to pay Georgia self employment tax quarterly or face a penalty. The quarterly estimated tax payments must be made on:

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

4. What forms do I need to file taxes?

To pay your Georgia self employment tax quarterly, you will use Form 1040-ES, Estimated Tax for Individuals. To file your annual tax return, you will use Schedule SE (Form 1040 or 1040-SR ), Self-Employment Tax to report your Social Security and Medicare taxes.

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