Self-Employment Tax Calculator 2026
For 1099 contractors, freelancers and sole proprietors: see your self-employment tax, your federal income tax and how much to pay each quarter.
| Social Security (12.4%) | $6,870.84 |
| Medicare (2.9%) | $1,606.89 |
| Additional Medicare (0.9%) | $0.00 |
| Self-employment tax | $8,477.73 |
| Federal income tax | $3,559.47 |
| Total federal tax | $12,037.20 |
| You keep | $47,962.80 |
How self-employment tax works
- Net earnings. Self-employment tax applies to 92.35% of your net profit, which mirrors the employer half of payroll tax that employees never see.
- 15.3% tax. 12.4% Social Security on earnings up to $184,500 (minus any W-2 wages), plus 2.9% Medicare on all earnings, and 0.9% more above $200,000 ($250,000 married).
- Income tax. Your profit is also subject to regular income tax. Half of your self-employment tax and, for most small businesses with taxable income under about $200,000 ($400,000 married), a 20% qualified business income deduction lower it.
- Quarterly payments. No employer withholds for you, so the IRS expects estimated payments four times a year.
Above the qualified business income threshold, the 20% deduction depends on your type of business and wages paid, so this calculator leaves it out. Check with a tax professional for your situation.
Common questions
How much is self-employment tax?
Self-employment tax is 15.3% (12.4% Social Security and 2.9% Medicare) on 92.35% of your net profit, so about 14.1% of profit. Social Security stops at $184,500 of earnings in 2026, and an extra 0.9% Medicare applies above $200,000 ($250,000 married).
Do I have to pay self-employment tax?
Yes, if your net profit from self-employment is $400 or more in a year. It covers the Social Security and Medicare taxes that an employer would otherwise split with you.
Can I deduct self-employment tax?
Half of your self-employment tax is deductible when you work out your income tax. It does not reduce the self-employment tax itself.
How much should I set aside for taxes as a freelancer?
Many freelancers set aside 25% to 30% of profit. For example, $60,000 of profit as a single filer means about $12,037 of federal tax (self-employment plus income tax), around 20%, before any state tax.
When are quarterly estimated taxes due?
For 2026 income, estimated payments are generally due April 15, June 15 and September 15 of 2026, and January 15 of 2027. Dates move to the next business day if they fall on a weekend or holiday.