Self Employment Tax Calculator
Estimate self-employment tax, added income tax and state tax on freelance profit, and the quarterly payment.
Free · No sign-up · Your inputs stay in your browser
Your numbers
Set aside enough for April
Your projection
Set aside 21.3% of profit
Self-employment tax
$5,652
Added federal income tax
$1,389
State income tax
$1,487
Each quarterly payment
$2,132
2026 figures: 15.3% on 92.35% of profit, Social Security up to the $184,500 wage base. Quarterly estimates are due in April, June, September and January; IRS Form 1040-ES has the dates and the safe-harbor rules.
About this tool
Method, assumptions, practical next steps, and limits.
No employer is withholding for you
Self-employed people pay both halves of Social Security and Medicare and are expected to pay tax during the year through quarterly estimates. Setting aside a percentage of every payment is the simplest way to be ready.
How the calculation works
Self-employment tax = profit × 92.35% × 15.3%, with the 12.4% Social Security part stopping at the 2026 wage base of $184,500 minus any W-2 wages. Half of the self-employment tax is deducted from income, and the 20% qualified business income deduction applies below the income thresholds.
On $40,000 of profit with no other income, self-employment tax is $5,652. After deducting half of it, the QBI deduction and the $16,100 standard deduction, federal income tax is about $1,389, and a 4% state rate adds about $1,487. That is $8,528 in total, 21.3% of profit, or $2,132 a quarter.
Due dates and safe harbors
Estimated payments are due in mid-April, June, September and January; IRS Form 1040-ES lists the dates. Paying 100% of last year’s tax, or 110% above certain incomes, generally avoids an underpayment penalty.
