A self-employed taxpayer pays 15.3% of Self-Employment tax on

1) 100% net profit, plus 2.9% Medicare tax over $137,700

2) 100% of the first $137,700 of net profit, plus 2.9% Medicare tax over $137,700

3) 92.35% of the first $137,700 of net profit, plus 2.9% Medicare tax over $137,700

4) Net profit over $400, plus 2.9% Medicare tax under $137,700