Self-employment tax calculator
Enter business profit and other income to estimate self-employment tax and related deductions.
Set aside each quarter
Four equal shares of estimated annual tax for 2026.
State tax for TX is unavailable for these inputs. Combined tax and after-tax amounts remain unavailable. Federal figures appear below.
- Effective tax rate
- Unavailable
- Suggested amount to set aside
- Unavailable
The estimate includes self-employment tax and income tax added by this profit. Quarterly amounts divide the annual estimate by four; they do not subtract withholding or payments already made.
Federal tax rule sources
Self-employment tax questions
How much should I reserve from freelance income?
Enter profit after business expenses and any wages from another job. The results show estimated annual tax added by that profit, a suggested percentage to reserve and four equal planning amounts; subtracting payments already made requires a separate calculation.
How is self-employment tax calculated?
The basic combined Social Security and Medicare rate is 15.3%, generally applied to 92.35% of net profit. Social Security has an annual wage limit, and Additional Medicare can apply at higher income levels; wages from another job affect those calculations.
When are federal estimated payments due for 2026?
For a calendar-year taxpayer, the usual 2026 dates are April 15, June 15 and September 15, 2026, then January 15, 2027. IRS Publication 505 explains exceptions and payment methods for income that changes during the year.
Which expenses should I subtract to find net profit?
Start with business revenue and subtract allowable business expenses. Enter profit before personal income tax or self-employment tax; keep wages from another job in the separate W-2 field.
How can I check whether I have paid enough to avoid a penalty?
Compare withholding and estimated payments with the payment requirements for your whole tax return, rather than only the profit entered here. IRS Publication 505 explains payment levels that can prevent a penalty and methods for uneven income.