Start with net profit
Net profit is business income after ordinary and necessary business expenses. You can enter it directly or let the calculator subtract expenses from gross income.
Free 2026 estimate for independent workers
Self-Employment Tax Calculator
Enter your net self employment profit and estimate regular Schedule SE tax for one person. Income tax and Additional Medicare Tax are not included.
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YOUR INCOME
Estimate the tax on your self employment profit.
Results update as you type using the regular federal Schedule SE method.Add box 3 across all W2s for this person. This is a per person estimate, so combine net profit from all of that person’s businesses.
Regular Schedule SE estimate only. It excludes federal and state income tax, credits, withholding, and Additional Medicare Tax. Set aside amounts are full year averages beginning in January. They are not complete Form 1040-ES payments.
YOUR ESTIMATE
Enter your income to see the tax breakdown.
Social Security, Medicare, quarterly, and per payment amounts will appear here instantly.
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Tax planning assistant
Ask about the estimate, quarterly payments, or what to discuss with a tax professional.
The federal calculation
Self employment tax funds Social Security and Medicare.
Employees split these taxes with an employer. Self employed people generally pay both portions through Schedule SE when their net earnings reach the filing threshold.
Apply the 92.35 percent factor
The regular Schedule SE method generally multiplies net self employment profit by 92.35 percent to determine net earnings subject to the tax.
Split Social Security and Medicare
Social Security applies up to the annual wage base after eligible W2 wages. Medicare generally applies to all net earnings from self employment.
2026 payment calendar
Federal estimated tax is usually paid four times a year.
These are the IRS calendar year dates for Form 1040-ES. Your full estimated payment can include income tax and other amounts beyond the self employment tax shown above.
Keep more of what you earn
Common deductions to discuss with a tax professional
Good records can help you claim legitimate business deductions and understand which expenses reduce business profit versus income tax.
Ordinary business expenses
Supplies, software, professional services, advertising, and other ordinary costs may reduce Schedule C profit when they qualify.
Home office
A space used regularly and exclusively for business may qualify under the simplified or actual expense method.
Business mileage
Eligible business driving may be deductible using the standard mileage rate or actual vehicle expenses.
Health insurance
Some self employed people can deduct eligible health insurance premiums, subject to income and coverage rules.
Half of self employment tax
You can generally deduct the employer equivalent portion of self employment tax when calculating adjusted gross income.
Retirement contributions
SEP IRA, SIMPLE IRA, and individual 401(k) contributions may reduce taxable income when eligibility rules are met.
Turn the estimate into a habit
Give tax money its own place.
Create a dedicated Novo Reserve for taxes so the amount you set aside stays separate from everyday operating money.
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Sources and assumptions
Built from the federal worksheet, not a shortcut rate.
The calculator follows the regular federal method in IRS Publication 505: multiply expected self employment profit by 92.35 percent, apply 2.9 percent Medicare tax, and apply 12.4 percent Social Security tax up to the remaining annual wage base after eligible wages.
It does not calculate federal or state income tax, Additional Medicare Tax, tax credits, safe harbor payments, withholding, special farm or clergy rules, or every Schedule SE adjustment.
Self employment tax questions
Usually, yes, if your combined net earnings from self employment reach $400 or more. Side gig profit can be subject to self employment tax even when you also have a regular job.
Social Security wages from Form W2 box 3 use part or all of the annual Social Security wage base. Add box 3 across all W2s for the person being estimated. Medicare tax does not have the same wage cap.
No. The result estimates the standard Social Security and Medicare portions of self employment tax only. Federal and state income tax, credits, withholding, and Additional Medicare Tax are not included.
You may owe an underpayment penalty if you do not pay enough tax during the year. Form 1040-ES helps calculate full estimated tax payments, and wage earners may be able to increase W2 withholding instead.
No. It is an educational estimate using simplified federal rules. A qualified tax professional can review your complete income, filing status, deductions, credits, and state obligations.
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