Oregon Self-Employment Tax Calculator

Self Employed – Oregon Calculator
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Your Income Taxes Breakdown


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Oregon Self-Employment Tax: What You Need to Know in 2024

TLDR

The self-employment tax rate in Oregon is 15.3%, comprising a 12.4% Social Security tax and a 2.9% Medicare tax on net earnings. Individuals must pay this tax if they have $400 or more in net earnings from self-employment.

Self-employed individuals can claim deductions, including half of the self-employment tax paid and other business-related expenses, to reduce their tax burden.

Tax Rate and Minimum Income

The self-employment tax rate in Oregon is 15.3%, which is the sum of a 12.4% Social Security tax and a 2.9% Medicare tax on net earnings. Individuals must pay this tax if they have $400 or more in net earnings from self-employment.

Reporting and Filing

Self-employed individuals in Oregon must file an annual tax return and pay taxes on their net profit from their business, which includes Social Security and Medicare taxes. The transit self-employment tax is also applicable to individuals with self-employment earnings from business or services within transit districts.

You need to file estimated tax payments in Oregon if you expect to owe tax of $1,000 or more after all credits and withholding.

Estimated payment key dates:

  • April 15th
  • June 15th
  • September 15th
  • December 15th

Tax Deductions

Self-employed individuals in Oregon can take advantage of certain deductions to lower their tax burden. For example, they may be able to deduct half of the self-employment tax paid and claim other business-related expenses. Additionally, they are allowed a deduction equal to the federal deduction for self-employment taxes.

References

The TaxAssist+ calculator computes your federal and state income taxes for the 2023/24 tax year, using several key factors such as your household income, geographical location, and filing status.

HOW INCOME TAXES ARE CALCULATED

  • Initially, the calculator identifies your adjusted gross income (AGI) by reducing your total household income by specific, allowable adjustments.
  • We then subtract potential personal exemptions to arrive at your taxable income.
  • Your taxable income is subjected to relevant tax brackets based on your filing status to determine the total income tax you owe for the year.

Update Schedule: TaxAssist+ continuously monitors for amendments to tax rates and regulations, ensuring that our calculators remains current for the current tax year.

Customer Support: For any comments or inquiries, we encourage you to reach out directly to our support team via our contact page.

Step 1

Our US research professionals meticulously compile and scrutinize the latest tax laws and regulations to ensure foundational accuracy.
James Toth
Financial Services Research Expert

Step 2

A dedicated team of independent fact-checkers rigorously reviews and authenticates the compiled data for integrity and compliance.
Fact-checked
By independent fact-checkers

Step 3

Our tech team then integrates these verified updates into the TaxAssist+ calculators, ensuring they reflect the most current tax rates.
Liam Hollis
Product & IT Lead at TNGB Research

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*Updated for 2023/24

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