If you're going to run numbers you might as well use a calculator that at least accounts for the standard deduction, personal exemption, and deducts 1/2 of the

If you're going to run numbers you might as well use a calculator that at least accounts for the standard deduction, personal exemption, and deducts 1/2 of the SE tax: Income: $100,000 Self-employment tax on $100,000: $14,130 Taxable income: $100,000 - $6,300 (standard deduction) - $4,050 (personal exemption) - $7,065 (1/2 SE tax) = $82,585 Federal income tax on $82,585 = $16,418 Total federal income tax and self-employment tax: $30,548 That's about 30%. Add in $4-5k for state income tax and you're up to 35% effective tax rate at most. And this is assuming a single filer with no dependents and no other deductions. Add a spouse or dependents, or IRA/401k contributions, or business deductions, and it goes even lower.