Self-employment tax calculator
Self-employment tax is 15.3% of 92.35% of your net profit: 12.4% for Social Security up to $184,500 and 2.9% for Medicare. On $100,000 of profit, SE tax is $14,129.55, and you can deduct half of it. Add federal income tax and plan to set aside roughly 26% of your profit.
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How self-employment tax is calculated
Employees split Social Security and Medicare taxes with their employer. When you work for yourself, you pay both halves. That is the 15.3% self-employment (SE) tax, reported on Schedule SE.
\[ \begin{gathered} \text{net earnings} = \text{net profit} \times 92.35\% \\ \text{Social Security} = 12.4\% \times \text{net earnings} \ (\text{up to} \ \$184{,}500) \\ \text{Medicare} = 2.9\% \times \text{net earnings} \\ \text{SE tax} = \text{Social Security} + \text{Medicare} \ (+ 0.9\% \, \text{Additional Medicare above} \ \$200{,}000 \, \text{single}) \end{gathered} \]
You owe SE tax only if net earnings are $400 or more. The 92.35% factor mimics the employer-side deduction that W-2 employees get.
The deduction and your income tax
You may deduct half of your SE tax when you compute adjusted gross income, which lowers your income tax (but not your SE tax). The calculator subtracts that half and the standard deduction, then applies the 2026 federal brackets.
| Net profit | SE tax | Federal income tax | Total | Set aside |
|---|---|---|---|---|
| $50,000 | $7,064.78 | $3,396.11 | $10,460.89 | 20.9% |
| $100,000 | $14,129.55 | $11,615.75 | $25,745.30 | 25.7% |
| $250,000 | $29,851.26 | $46,572.26 | $76,423.52 | 30.6% |
Figures are for a single filer with no other income and no state tax.
Quarterly estimated taxes
Nobody withholds tax from your self-employment income, so the IRS expects estimated payments four times a year (April, June, September and January) if you will owe $1,000 or more. A simple habit is to move the set-aside percentage into a separate savings account every time a client pays you. State income tax is extra, and a retirement plan such as a solo 401(k) or SEP IRA can reduce your income tax.
3 real-life examples
A freelancer with $100,000 of net profit
Net earnings: $92,350. Social Security: $11,451.40. Medicare: $2,678.15. SE tax: $14,129.55. Deductible half: $7,064.78. Federal income tax: $11,615.75. Total: $25,745.30, about 25.7% of profit.
A side hustle with $50,000 of profit
SE tax is $7,064.78 (14.1% of profit). With the standard deduction, income tax is $3,396.11. Set aside about 21%.
A consultant with $250,000 of profit
Net earnings of $230,875 exceed the $184,500 Social Security base, so Social Security tax stops at $22,878. Medicare is $6,695.38, plus $277.88 of Additional Medicare. SE tax: $29,851.26.