Self-employment tax calculator

Estimate self-employment tax, income tax and the quarterly payment to set aside as a freelancer or small business owner.

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How self-employment tax works

Self-employed people pay both halves of Social Security and Medicare. We take 92.35% of your net profit, then apply 12.4% Social Security tax up to $184,500 and 2.9% Medicare tax, plus 0.9% extra Medicare tax on profit above $200,000 for single filers. Half of the regular self-employment tax is deducted before income tax is calculated.

Quarterly estimated payments

Freelancers generally pay estimated tax four times a year instead of through paycheck withholding. The quarterly figure here is one quarter of your total estimated federal tax, which helps you decide how much to set aside from each payment.

What this calculator does not include

This is a federal-only estimate for the 2026 tax year using the standard deduction unless you enter itemized deductions. It does not include state or local taxes, the alternative minimum tax, or many credits and deductions you may qualify for. Treat it as a planning estimate and use IRS.gov or a tax professional for your actual return.

The qualified business income deduction, which can reduce tax for many self-employed people by up to 20% of qualified income, is not included, so your real tax may be lower.

Frequently asked questions

How much should I set aside?

The result shows the percentage of your profit this estimate would owe. Many freelancers set aside a bit more as a safety margin.

Does this include state tax?

No. Add your state's tax separately.

More tax calculators

Take-home pay by state: all 50 states and DC
Federal income tax calculator: 2026 brackets, deductions and effective tax rate
Take-home pay calculator: Your paycheck after federal tax, FICA, state tax and 401(k)
Capital gains tax calculator: Short-term and long-term gains tax, plus NIIT

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