Self-Employment Tax Calculator 2026
Estimate your 1099 / freelance taxes — self-employment tax, federal income tax, and what to pay each quarter — so you know exactly how much of every invoice to set aside.
✏️ These numbers were filled in from a shared link — change anything to make it your own.
How the estimate works
- Self-employment tax — 15.3% on 92.35% of your net profit (12.4% Social Security up to the 2026 wage base of $184,500, plus 2.9% Medicare on all of it, plus 0.9% above $200k/$250k). Half of this is deductible against income tax.
- Federal income tax — we stack your freelance profit on top of any other household income and charge only the extra income tax it creates, after the standard deduction. That marginal figure is the right amount to set aside.
- State tax — a simple flat estimate on your profit; set it to 0 for no-income-tax states like TX, FL, or WA.
This is a planning estimate for 2026, not tax advice. It leaves out credits, itemized and QBI deductions, and state-specific rules. Confirm with a CPA or tax software before filing.
Frequently asked questions
How much should a freelancer set aside for taxes?
A common rule of thumb is 25–30% of your net profit, but the honest answer depends on your total income and filing status. This calculator gives you a personalized set-aside percentage based on 2026 self-employment tax plus the marginal federal income tax your freelance income creates.
What is self-employment (SE) tax?
SE tax covers Social Security and Medicare for people who work for themselves. It is 15.3% on your net earnings (12.4% Social Security up to the 2026 wage base of $184,500, plus 2.9% Medicare on everything, plus 0.9% extra Medicare above $200k/$250k). Employees split this with their employer; freelancers pay both halves — but you can deduct half of it on your income taxes.
When are 2026 quarterly estimated taxes due?
For 2026 income, federal estimated payments are generally due April 15, 2026, June 15, 2026, September 15, 2026, January 15, 2027. Paying roughly a quarter of your expected tax by each date helps you avoid IRS underpayment penalties.
Does this include the QBI deduction?
No. To stay conservative (so you set aside enough), this estimate does not apply the 20% Qualified Business Income deduction, which can lower your income tax if you qualify. If you claim QBI, your actual income tax may be somewhat lower than shown.
Is this a substitute for a tax professional?
No. It is an estimate that ignores many credits, deductions, and state-specific rules. Use it to plan your set-aside and quarterly payments, then confirm with a CPA or tax software before filing.