Michigan Self-Employment Tax Calculator (2023)

Last udpated December 19th, 2023
What state are you in
What is your tax filling status?
What will your 1099 income be this year?
What will your W2 income be this year?
How much will you spend on business expenses this year?
Get your estimated taxes
This year you will owe a minimum of
$X,XXX in self-employment taxes.
Want to save money with deductions and stay on top of your self-employed taxes?

Bonsai Tax is built just for self-employed workers.
It helps tens of thousands of people across the country save an average of $5,600 on their taxes.
This is an estimate, and should not be considered tax or financial advice.

What You Need to Know About Michigan Self-Employment Tax in 2023

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

Michigan self employment tax is an amount paid to cover Social Security and Medicare, to a total of 15.3%. Social Security is 12.4% and Medicare is 2.9%.

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

Michigan self employment tax rate is also calculated separately for the two payments. The Social Security amount is applied to a set amount every year, and for 2020, the 12.4% will be applied to the first $137,700 of your net earnings. The 2.9% Medicare amount is applied to all your combined net earnings. If you operate a married couples business, tax requirements may vary.

3. When do I have to pay taxes?

When you work for an employer, they withhold taxes from your cheques. When you’re the boss, you’re required to pay Michigan self employment tax on a quarterly basis. Estimated tax payments must be made on:

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

4. What forms do I need to file taxes?

Payments can be made electronically with Form 1040-ES, Estimated Tax for Individuals. Use the worksheet in Form 1040-ES to find out if you are required to file quarterly estimated tax.

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