Self-Employed Tax Calculator 2025–2026
Estimate your self-employment tax, your income tax and your quarterly estimated payments, so there are no surprises at tax time.
For freelancers, 1099 contractors, gig workers and small business owners.
How self-employment tax works
When you work for yourself, no employer takes Social Security and Medicare out of your pay, so you pay both halves yourself: 15.3% of 92.35% of your net profit. The 12.4% Social Security part stops at $184,500 of combined wages and self-employment earnings for 2026 ($176,100 for 2025); the 2.9% Medicare part has no limit, and 0.9% more applies above $200,000 ($250,000 filing jointly, $125,000 filing separately).
On top of that, your profit is taxed as income, with the same brackets as wages. Half of your self-employment tax, health insurance premiums and retirement savings come off your income first, and many owners can also deduct up to 20% of their qualified business income.
Frequently asked questions
What is self-employment tax?
Social Security and Medicare tax for people who work for themselves: 15.3% of 92.35% of your net profit. The 12.4% Social Security part stops at $184,500 of combined wages and self-employment earnings for 2026 ($176,100 for 2025); the 2.9% Medicare part has no limit.
Who has to pay self-employment tax?
Anyone with $400 or more of net earnings from self-employment: freelancers, independent contractors, gig workers and sole proprietors, even if they also have a job.
How is self-employment tax different from income tax?
Self-employment tax pays for Social Security and Medicare. Income tax is figured separately, on your total income after deductions, with the same brackets as everyone else. You pay both.
Do I have to make quarterly estimated tax payments?
Usually, if you expect to owe $1,000 or more for the year after your withholding and credits. Paying during the year avoids an underpayment penalty.
When are estimated tax payments due?
April 15, June 15 and September 15 of the tax year, and January 15 of the next year. When a date falls on a weekend or a holiday, the payment is due the next business day.
How do I avoid an underpayment penalty?
Pay at least 90% of this year's tax, or 100% of last year's (110% if last year's adjusted gross income was over $150,000, or $75,000 married filing separately), through withholding and estimated payments spread over the year.
Can I deduct half of my self-employment tax?
Yes. Half of your self-employment tax comes off your income for income tax, which this calculator includes. It does not lower the self-employment tax itself.
What is the qualified business income deduction?
Many self-employed people can deduct up to 20% of their qualified business income on top of the standard deduction. It is limited at higher incomes for some kinds of business. This calculator includes it.
How do I lower my self-employment tax?
Deduct every business expense you can: business expenses lower both self-employment tax and income tax. Health insurance premiums and retirement savings lower your income tax only.
More tax calculators and money-saving tools
See all tax tools- Tax CalculatorSee your estimated refund, or what you may owe, for this year or last.
- Tax Bracket CalculatorFind your federal tax bracket and your effective tax rate.
- W-4 Withholding CalculatorCheck the tax taken out of your paycheck and see what to change on your W-4.
- Crypto Tax CalculatorWork out the gain or loss, and the tax, on a crypto sale.
- Self-Employed Tax Deductions CalculatorFind the write-offs for your line of work, and what they save you.
- Tax Reform CalculatorSee how the new tax law, in effect since 2025, changes your taxes, line by line.
Want help with your self-employment taxes?
Our tax experts can set up your quarterly payments, find the deductions you are missing, and prepare and file your return with your Schedule C.
These calculators give estimates of federal tax for planning, not tax advice. Pinnacle Tax Professionals confirms the final numbers when we prepare your return.

