Self-Employment Tax Calculator (2026)
Estimate the tax on freelance or self-employed income, including self-employment tax and federal income tax.
When to use this calculator
Use this calculator if you are a freelancer, contractor or small business owner. You pay both the employee and employer halves of Social Security and Medicare, so the tax is higher than for a regular employee. The calculator estimates SE tax, income tax and a set-aside amount.
Example self-employment tax
How this calculator works
Self-employment tax is 15.3 percent on 92.35 percent of net profit: 12.4 percent Social Security (up to $184,500) and 2.9 percent Medicare, plus 0.9 percent extra Medicare on high earners. Half of it is deducted before income tax. Federal income tax uses the 2026 brackets and standard deduction. The qualified business income deduction, state tax and credits are not included, so your real bill may be lower.
Step-by-step example
Using these inputs: Net profit for the year ($): 70000; Filing status: Single.
On $70,000 of net profit for a single filer, self-employment tax is about $9,891 and federal income tax about $5,627. Setting aside $15,517, or 22.17% of profit, leaves $54,483.
Tips for a better estimate
- Set aside tax from every payment you receive, in a separate savings account.
- Most self-employed people make quarterly estimated tax payments to the IRS.
- Track business expenses carefully. They reduce your net profit and your tax.
FAQ
Why is self-employment tax so high?
You pay both the employee and employer halves of Social Security and Medicare.
Do I pay quarterly?
Most self-employed people make estimated tax payments four times a year.
What can reduce it?
Business expenses, retirement contributions and the QBI deduction may lower your tax. Ask a tax professional.
What is the self-employment tax rate?
15.3% in total: 12.4% for Social Security and 2.9% for Medicare, applied to 92.35% of your net earnings.
Can I deduct part of SE tax?
Yes. You can deduct half of your self-employment tax when you figure your income tax.
When are estimated taxes due?
Usually in April, June, September and January. Check irs.gov for exact dates.
Rates and limits last updated: October 2026. This is an estimate for general information only, not financial, tax or legal advice.