Self-Employment Tax Calculator
Estimate your 2026 self-employment tax from your net profit. It covers the Social Security and Medicare parts and shows the half you can deduct.
How the self-employment tax calculator works
If you work for yourself you pay both the employee and employer share of Social Security and Medicare. The total rate is 15.3 percent: 12.4 percent for Social Security and 2.9 percent for Medicare. The tax is charged on 92.35 percent of your net profit, and Social Security applies only up to the 2026 wage base of $184,500.
The formulas
Example: Net profit of $60,000 gives self-employment tax of $8,477.73, made up of $6,870.84 for Social Security and $1,606.89 for Medicare. You can deduct $4,238.87 on your income tax return.
This calculator does not include income tax, the additional 0.9 percent Medicare tax on high earners, or state tax. Use IRS Schedule SE for your return and speak to a tax professional for advice.
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Frequently asked questions
What is the self-employment tax rate?
15.3 percent: 12.4 percent Social Security plus 2.9 percent Medicare, applied to 92.35 percent of net profit.
Why 92.35 percent of net profit?
It equals net profit minus the employer-equivalent half of the tax, so the tax is not charged twice on the same money.
Can I deduct self-employment tax?
You can deduct half of it from your income when you calculate income tax.
Is there a minimum income for SE tax?
You owe it if your net self-employment earnings are $400 or more for the year.
Is this the same as income tax?
No. Self-employment tax is on top of federal and state income tax.
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