Self-Employment Tax Calculator 2026

Self-Employment Tax Calculator

If you are a freelancer, contractor or sole proprietor, you pay self-employment (SE) tax — both halves of FICA, 15.3%. Enter your net profit to see your SE tax, the 92.35% base, and the half you can deduct.

● 15.3% combined SE rate ● 92.35% net-earnings base ● Half is deductible

🧑‍💻 Your SE tax

Why it exists

What is self-employment tax?

When you work for an employer, you and the employer split FICA — you each pay 7.65%. When you work for yourself, there is no employer, so you pay both halves: 15.3%. That combined payroll tax is called self-employment tax and is reported on IRS Schedule SE.

Social Security 12.4% (81%)Medicare 2.9% (19%)

The 92.35% rule

You do not pay SE tax on 100% of your profit. The IRS lets you first multiply net profit by 92.35% (this accounts for the employer-half deduction) and apply the 15.3% rate to that smaller base. The Social Security 12.4% portion only applies up to the $184,500 wage base; the 2.9% Medicare portion has no cap.

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You deduct half: One-half of your SE tax is an above-the-line deduction on your Form 1040, which lowers your income-tax bill. The calculator shows that deductible figure.

Don't forget income tax and quarterly payments

SE tax is on top of regular income tax. Most self-employed people make quarterly estimated payments to cover both. To estimate income tax on the same profit, run it through our paycheck calculator, and compare being a W-2 employee with our gross-to-net tool.

Self-Employment Tax Calculator FAQ

How much is self-employment tax in 2026?

Self-employment tax is 15.3% — 12.4% for Social Security plus 2.9% for Medicare. It applies to 92.35% of your net self-employment profit. The Social Security portion only applies to net earnings up to the $184,500 wage base in 2026.

What is the 92.35% in self-employment tax?

Before applying the 15.3% rate, you multiply your net profit by 92.35%. This adjustment represents the employer-half of FICA that a regular employer would have paid, keeping self-employed people roughly on par with W-2 workers.

Can I deduct self-employment tax?

Yes. You can deduct one-half of your self-employment tax as an adjustment to income on Form 1040. It reduces your taxable income for income-tax purposes, though not the SE tax itself.

Do I pay self-employment tax and income tax?

Yes, they are separate. SE tax funds Social Security and Medicare; income tax is calculated on your taxable income using the federal brackets. Most self-employed people pay both through quarterly estimated tax payments.