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Self-Employment Tax Calculator (2026)
Know exactly what to set aside before tax season hits. Enter your self-employment income and get your SE tax, federal income tax estimate, and quarterly payment amount in seconds.
How self-employment tax works
Self-employment tax is 15.3% of your net earnings — covering both the employee and employer portions of Social Security and Medicare that a traditional employer would normally split with you. It breaks down to 12.4% for Social Security (on the first $184,500 of net earnings in 2026) and 2.9% for Medicare (on all net earnings, no cap).
Only 92.35% of your net profit is subject to SE tax — the IRS lets you exclude the employer-equivalent half. Half of your SE tax itself is then deductible from your income tax, which this calculator applies automatically.
Freelancers pay taxes quarterly— April 15, June 15, September 15, and January 15 — because there's no employer withholding. Missing a deadline can trigger IRS penalties. The general rule of thumb: set aside 25–30% of every payment.
Best free tools for calculating self-employment taxes
There is no single official calculator for the whole picture. Use this page for a fast planning estimate, then verify the numbers with the IRS worksheet before you file. Here is the short list worth bookmarking.
| Tool | Best for | Cost | Sign-up |
|---|---|---|---|
| Tally Assistant SE tax calculator | A fast estimate of SE tax, federal income tax, and quarterly payments | Free | No |
| IRS Form 1040-ES worksheet | The official manual federal calculation | Free | No |
| IRS Tax Withholding Estimator | Combining W-2 withholding with freelance income | Free | No |
| State tax department worksheets | State income tax and state estimated payments | Free | Varies |
Figures checked October 2026 against IRS Rev. Proc. 2025-32 and the SSA 2026 COLA fact sheet. This is a planning estimate, not tax advice.
Frequently asked questions
Do I really owe self-employment tax on top of income tax?
Yes. SE tax (15.3% on 92.35% of net profit) is in addition to federal income tax. A freelancer with $80,000 net profit pays roughly $11,304 in SE tax plus federal income tax on top.
What counts as net self-employment income?
Your total 1099-NEC income minus business expenses from Schedule C — not what you transfer to your personal account.
Can retirement contributions lower my tax?
Yes. SEP IRA and Solo 401k contributions reduce your taxable income, and they also reduce the 92.35% base if you make them before filing — a big lever for freelancers.
What if I also have a W-2 job?
Your W-2 withholding usually covers your first tax bracket. Add your W-2 wages to this calculator to see how much more you'll owe from freelance income.
What is the best free tool to calculate self-employment tax?
Use this calculator for a fast planning estimate, then verify with the official IRS Form 1040-ES worksheet before filing. The IRS worksheet is the source of truth for the federal calculation; state tax departments publish separate estimated-payment worksheets. All are free and none require a sign-up.
Let Tally Assistant track it for you
Import your bank CSVs, scan 1099 income, and categorize expenses automatically — so tax season becomes a 5-minute export instead of a panic.