Free calculator
Self-Employment Tax Calculator
Freelancers, contractors and side hustlers pay Social Security and Medicare on their own profit. Enter your net profit for 2026 to see the self-employment tax, the half you can deduct, and a quarter of it to set aside for each estimated payment. Free, no sign-up.
- Net profit$0
- Net earnings (92.35% of profit)$0
- Social Security part, 12.4%$0
- Medicare part, 2.9%$0
- Self-employment tax$0
- Half you can deduct from income$0
- About a month$0
How it works
Self-employment tax is 15.3%: 12.4% for Social Security and 2.9% for Medicare. It is charged on your net earnings, which are 92.35% of your net profit, and you owe it once net earnings reach $400 (IRS Topic 554 and Schedule SE).
The 12.4% Social Security part stops at $184,500 of 2026 earnings (SSA). For 2027 earnings the limit rises to $192,300 (SSA, posted Oct 14, 2026). W-2 wages you earned at a job count toward that limit first, so the calculator takes them off before it applies 12.4%. The 2.9% Medicare part has no limit.
Half of the tax is an adjustment to income on your Form 1040, so it lowers your income tax but not the self-employment tax itself. The quarterly figure is the tax divided by four. Income tax comes on top, and the 0.9% Additional Medicare Tax on high earners is not included.
A worked example
The Freelance Income Tracker's fictional sample designer received $15,570 in 2026. Say none of it went to business expenses, so net profit is $15,570. Net earnings are 92.35% of that, $14,378.90. Social Security at 12.4% is $1,782.98 and Medicare at 2.9% is $416.99, so the self-employment tax is $2,199.97, about 14.1% of profit. Half of it, $1,099.99, comes off income on the 1040. A quarter of it, $549.99, is the set-aside for each of the four 2026 estimated payments (Apr 15, Jun 15 and Sep 15, 2026 and Jan 15, 2027), before any income tax.
Track what came in and what to set aside
The Freelance Income Tracker for Excel and Google Sheets logs every invoice and payment in one tab: income by month, what clients still owe you, and a set-aside at the rate you choose, split into the four IRS payment periods with their due dates. $2.99, instant download.
Questions
How much is self-employment tax in 2026?
15.3% of your net earnings, which are 92.35% of your net profit. That works out to about 14.1% of profit. Above $184,500 of earnings only the 2.9% Medicare part applies.
Do I pay self-employment tax if I also have a W-2 job?
Yes, on your self-employment profit. Your W-2 wages use up part of the $184,500 Social Security limit first, so if wages plus self-employment earnings pass that limit, less of your profit gets the 12.4% part.
Is there a minimum before I owe it?
Yes. If your net earnings (92.35% of net profit) are under $400 for the year, no self-employment tax is due (IRS Topic 554).
Is self-employment tax the same as income tax?
No. It is Social Security and Medicare for people who work for themselves. Income tax is separate and comes on top. Half of the self-employment tax is deducted from income before income tax is figured.
When do I pay it?
Through estimated tax payments. For 2026 they are due Apr 15, Jun 15 and Sep 15, 2026 and Jan 15, 2027 (IRS Form 1040-ES). Your total estimated payment also has to cover income tax.
Is this tax advice?
No. It is the Schedule SE arithmetic on the numbers you type. Farm income, church employee income and the Additional Medicare Tax are not covered. Check your own return with a tax professional.