2026 tax year · updated Oct 15, 2026

Self-employment tax calculator

Self-employment tax for 2026 is 15.3% of 92.35% of your net profit: 12.4% for Social Security up to the $184,500 wage base and 2.9% for Medicare with no cap. On $60,000 of freelance, gig or business profit that comes to $8,478.

Self-employment tax for 2026

$9,184

14.1% of your profit

Net profit: $65,000
Taxed amount (92.35% of profit): $60,028
Social Security (12.4%): $7,443
Medicare (2.9%): $1,741
Additional Medicare (0.9%): $0
Deduction for half of SE tax: $4,592
Set aside each quarter (SE tax only): $2,296

Income tax comes on top. Total tax and quarterly payments in the 1099 tax calculator

Self-employment tax by profit, 2026

Single filer with no W-2 wages. The rate falls above $184,500 of net earnings because Social Security stops at the wage base.

Self-employment tax at common profit levels
Net profit	Social Security	Medicare	Total SE tax	% of profit	Per quarter
$20,000	$2,290	$536	$2,826	14.1%	$706
$40,000	$4,581	$1,071	$5,652	14.1%	$1,413
$60,000	$6,871	$1,607	$8,478	14.1%	$2,119
$80,000	$9,161	$2,143	$11,304	14.1%	$2,826
$100,000	$11,451	$2,678	$14,130	14.1%	$3,532
$150,000	$17,177	$4,017	$21,194	14.1%	$5,299
$200,000	$22,878	$5,356	$28,234	14.1%	$7,059
$250,000	$22,878	$6,973	$29,851	11.8%	$7,463

How self-employment tax works

Start from net profit: self-employment income minus business expenses (Schedule C).
Multiply by 92.35% to get net earnings from self-employment.
Social Security: 12.4% of net earnings up to $184,500, less any W-2 wages that already count toward that base.
Medicare: 2.9% of all net earnings, plus 0.9% Additional Medicare tax above $200,000 ($250,000 married filing jointly).
Deduct half of the self-employment tax from your income for income tax (not from the self-employment tax itself).

Self-employment tax is only part of what a freelancer owes. The 1099 tax calculator adds federal and state income tax and the QBI deduction, and the estimated tax calculator works out the quarterly payments that avoid a penalty.

Sources: IRS Topic 554, Social Security wage base, IRS Topic 560. See our methodology.

Frequently asked questions

What is the self-employment tax rate for 2026?

15.3%: 12.4% for Social Security and 2.9% for Medicare, charged on 92.35% of your net profit. Social Security stops at the $184,500 wage base; Medicare has no cap.

How much self-employment tax do I pay on $60,000?

On $60,000 of net profit, $8,478 (14.1% of the profit). Half of it, $4,239, is deducted from your income for income tax.

Why is it charged on 92.35% of profit?

The 92.35% factor mirrors the employer half an employee never sees in their wages, so the self-employed pay on the same base as employees.

Do I pay self-employment tax if I also have a W-2 job?

Yes, but your W-2 wages count toward the $184,500 Social Security wage base first. If your wages already reach it, your self-employment earnings pay only the Medicare part.

Is self-employment tax the same as income tax?

No. It is payroll tax (Social Security and Medicare) and comes on top of federal and state income tax. Both are paid through quarterly estimated payments.