Self-Employment Tax Calculator (2026)
See your 15.3% self-employment tax, the deductible half, your federal income tax, and what to send in each quarter.
The short answer
How much self-employment tax will I owe?
Self-employment tax is 15.3% of 92.35% of your net profit — 12.4% Social Security up to the 2026 wage base plus 2.9% Medicare with no cap — and half of that total is deductible against your income tax.
Applies once net self-employment earnings reach $400 for the year. S corporation owners and partnerships follow different rules.
Who qualifies
1099 contractors, freelancers, gig workers, sole proprietors, and single-member LLC owners filing Schedule C.
How the process works
Enter net profit, any W-2 wages, and filing status. Self-employment tax, income tax, and quarterly payments update instantly.
Typical timeline
Estimated payments are due roughly each April, June, September, and the following January.
Cost and fees
Free and ungated — results display immediately with no email or payment.
Credentials
Uses published 2026 rates and wage base. Educational estimate, not tax advice.
What happens next
If prior-year self-employment tax went unpaid and the balance is $10,000+, review IRS resolution options.
Last reviewed: 2026-08-31
Your numbers
Your estimate
Self-employment tax
$11,304
- Net earnings (92.35% of profit)
- $73,880
- Social Security portion (12.4%)
- $9,161
- Medicare portion (2.9%)
- $2,143
- Deductible half
- $5,652
- Federal income tax
- $7,527
- Total federal tax
- $18,831
- Suggested quarterly payment
- $4,708
- Set aside about
- 24% of profit
How this is calculated
Figures used: 2026 tax year
Net earnings from self-employment equal 92.35% of net profit, which approximates the employer-side deduction an employee never sees. Social Security tax of 12.4% applies to those net earnings up to the 2026 wage base, reduced by any W-2 wages you already earned. Medicare tax of 2.9% applies to all net earnings with no ceiling.
Half of the resulting self-employment tax is deducted when computing adjusted gross income. Federal income tax is then calculated on AGI minus the 2026 standard deduction for your filing status, using the same bracket-by-bracket method as the refund calculator.
Not modeled: the 0.9% Additional Medicare Tax above $200,000 (single) or $250,000 (joint), the qualified business income deduction, state income tax, retirement plan contributions, and health insurance deductions. Each can move the result meaningfully.
| Component | Rate | Applies to |
|---|---|---|
| Social Security | 12.4% | Net earnings up to $184,500 (combined with W-2 wages) |
| Medicare | 2.9% | All net earnings, no cap |
| Combined SE tax | 15.3% | 92.35% of net profit |
| Additional Medicare | 0.9% | Wages and SE income above $200,000 single / $250,000 joint |
| Deductible portion | 50% of SE tax | Above-the-line deduction against income tax |
Results are estimates for educational purposes only and are not tax, legal, or investment advice. Confirm current-year figures at IRS.gov or with a licensed professional.
Frequently asked questions
What is the self-employment tax rate?
Self-employment tax is 15.3% of net earnings: 12.4% for Social Security up to the annual wage base, plus 2.9% for Medicare with no cap. It is applied to 92.35% of your net profit, and half of the total is deductible.
At what income do I owe self-employment tax?
You owe self-employment tax once your net earnings from self-employment reach $400 for the year. That threshold applies to freelancers, gig workers, independent contractors, and single-member LLC owners reporting on Schedule C.
How much should I set aside for taxes as a 1099 contractor?
Many contractors set aside 25% to 35% of net profit to cover self-employment tax plus federal income tax. The right share depends on your bracket, deductions, and whether a spouse's withholding already covers part of the liability.
Can I deduct half of my self-employment tax?
Yes. One half of your self-employment tax is an above-the-line deduction that reduces adjusted gross income for income-tax purposes. It does not reduce the self-employment tax itself, only the income tax calculated afterward.
When are quarterly estimated taxes due?
Estimated payments are generally due in mid-April, mid-June, mid-September, and mid-January of the following year. Missing them can trigger an underpayment penalty even if you pay the full balance when you file.
Does an S corporation election lower self-employment tax?
It can. An S corporation owner pays payroll tax on reasonable wages, and remaining profit distributions are not subject to self-employment tax. The savings must be weighed against payroll, filing, and compliance costs.
What if I already owe the IRS for past self-employment years?
Unpaid self-employment tax accrues penalties and interest and often becomes a collection case. Balances of $10,000 or more usually merit a licensed professional review of installment agreements, penalty abatement, or an Offer in Compromise.
Behind on self-employment taxes?
Unpaid self-employment tax is one of the most common causes of IRS collection notices. These pages explain what to do next.