Estimate the Social Security and Medicare tax you owe on self-employment income — and see how much to set aside each quarter and month.
Tax year
Currently using 2026 tax rules. Tax limits and due dates change each year.
Start with a profile
Your self-employment income
Gross self-employment incomebefore expenses
$
Total revenue or 1099 income before deducting any business expenses.
Business expensesdeductible costs
$
Software, equipment, home office, professional services, and other deductible costs. SE tax is calculated on net income after expenses.
Net self-employment income$67,000
W-2 wages from your regular jobalready taxed by employer
$
Wages already subject to Social Security tax — usually shown on your W-2. Your employer withheld this, so it counts toward the annual Social Security wage base limit.
For 2026, the Social Security wage base is $184,500. W-2 wages reduce how much of your self-employment income is subject to the 12.4% Social Security tax. Medicare tax (2.9%) still applies to all net SE earnings regardless.
Estimated self-employment tax — 2026
$9,467
12.6% of gross income · based on $67,000 net income
SE tax only — does not include federal or state income tax
★ Quarterly set-aside
$2,367
Set aside every 3 months
Monthly set-aside
$789
If you budget monthly
Deductible amount
$4,733
Reduces taxable income
Net income after estimated SE tax
Before federal income tax, state tax, living expenses, and savings
$57,533
2026 estimated tax due dates
Q1: Jan – Mar
Apr 15, 2026
$2,367
Q2: Apr – May
Jun 15, 2026
$2,367
Q3: Jun – Aug
Sep 15, 2026
$2,367
Q4: Sep – Dec
Jan 15, 2027
paid in following year
$2,367
This is SE tax only — Social Security and Medicare. You may also owe federal income tax and possibly state income tax. Depending on your income, deductions, filing status, and state, your total set-aside will likely need to be higher than this estimate.
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Self-employment tax surprises a lot of new freelancers because nobody withholds it for you. There is no payroll department quietly handling it in the background. This calculator estimates the Social Security and Medicare tax you may owe on net self-employment income, then breaks it into quarterly and monthly amounts so you can plan before tax season shows up with a clipboard and an attitude.
Frequently asked questions
What is self-employment tax?
Self-employment tax covers Social Security (12.4%) and Medicare (2.9%) — a combined 15.3%. When you are employed, your employer pays half. When you are self-employed, you pay both sides. The IRS applies this to 92.35% of your net self-employment income, giving an effective rate of roughly 14.1% on net income.
Why does the calculator use 92.35%?
The IRS multiplies your net self-employment income by 92.35% before calculating SE tax. This factor accounts for the fact that employees only pay half of FICA taxes — reducing your taxable self-employment income slightly to put self-employed workers on comparable footing with employees. This is the standard Schedule SE calculation method.
What is the Social Security wage base for 2026?
For 2026, the Social Security wage base is $184,500. The 12.4% Social Security portion of SE tax only applies to net earnings up to that amount. Earnings above it are still subject to the 2.9% Medicare tax but not the Social Security portion. This is why high earners have a lower effective SE tax rate than 15.3%.
Can I deduct self-employment tax?
Yes. You can deduct half of your SE tax when calculating your adjusted gross income on your federal return. This is an above-the-line deduction — you do not need to itemize to claim it. The deduction reduces your taxable income, not your SE tax bill dollar-for-dollar.
When are 2026 quarterly estimated tax payments due?
For 2026, the estimated tax due dates are April 15 (Q1), June 15 (Q2), September 15 (Q3), and January 15, 2027 (Q4). Note that Q4 is always paid in January of the following year. These dates cover both SE tax and income tax estimates. If you expect to owe $1,000 or more in taxes for the year, the IRS generally requires quarterly payments to avoid underpayment penalties.
Does this calculator include income tax?
No. This calculator estimates SE tax only — Social Security and Medicare. You will also owe federal income tax and possibly state income tax on your self-employment income. Depending on your income, deductions, filing status, and state, your total tax set-aside will likely need to be higher than the SE tax estimate shown here.
What if I have both W-2 income and self-employment income?
If you have W-2 wages, your employer already withheld Social Security tax on those earnings. This reduces the Social Security wage base available for your self-employment income. Use the optional W-2 wages field in this calculator to account for that. Medicare tax (2.9%) applies to all self-employment net earnings regardless of W-2 wages.
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Build your complete freelance financial picture with these calculators and guides.
This calculator estimates self-employment tax using the standard Schedule SE calculation method (net income × 92.35% × 15.3%) and the 2026 Social Security wage base of $184,500. It does not calculate federal income tax, state income tax, the Additional Medicare Tax (0.9% on earnings above certain thresholds based on filing status), the SE tax deduction impact on income tax, or other taxes. Quarterly payment amounts are estimates only and assume equal income across all four quarters. Consult a qualified tax professional for advice specific to your situation.