Self-employment Tax Computing the tax Individuals having net earnings from self employment of $400 or more are subject to the self-employment tax The self-employment tax CHOP is 15.3%. This consist of an 12.4% for OASDI and 2.9% TOTE for Medicare, The limit for 2001 on OASDI is $80, 400 and there is no limit on the Medicare portion of the self-employment taxSelf-employment Tax • Computing the tax – Individuals having net earnings from self￾employment of $400 or more are subject to the self-employment tax – The self-employment tax is 15.3%. This consist of 12.4% for OASDI and 2.9% for Medicare. The limit for 2001 on OASDI is $80,400 and there is no limit on the Medicare portion of the self-employment tax