Self-Employed Tax Calculator
Put in what clients paid you and what the business spent. See your self-employment tax, federal income tax after the QBI deduction, your quarterly payment and the money that is actually yours. Updated for 2026.
- You keep $57,966
- Retirement $0
- SE tax $10,315
- Income tax $4,719
- State $0
| Net profitIncome − expenses | $73,000 |
| Self-employment tax15.3% on $67,416 | $10,315 |
| QBI deduction20% of qualified income | −$10,349 |
| Taxable incomeAfter standard deduction $16,100 | $41,394 |
| Federal income taxTop bracket 12% | $4,719 |
| Total tax | $15,034 |
Ask about your numbers
An AI assistant reads the figures above (never your name or anything else) and answers in plain English. It can be wrong, so check anything important with a tax professional.
Follow your profit through the tax forms
Step through the same six moves the IRS forms make, using your own numbers from the calculator.
Start with net profit
Gross receipts $85,000 minus business expenses $12,000 leaves $73,000 of net profit. This is Schedule C, line 31, and everything else is built on it.
What "take-home" means when nobody withholds for you
An employee's paycheck arrives with Social Security, Medicare and income tax already removed. A freelancer's invoice arrives whole, and the whole thing feels like yours. It is not. The IRS treats you as both the employee and the employer, so you owe both halves of FICA (that is the 15.3% self-employment tax) on top of ordinary income tax.
This calculator follows the IRS forms in order: Schedule C for profit, Schedule SE for self-employment tax, Schedule 1 for the adjustments (half of SE tax, health insurance, SEP or solo 401(k) contributions), Form 8995 for the QBI deduction and the 2026 tax rate schedules from Form 1040-ES. It covers federal tax for sole proprietors and single-member LLCs; partnerships and S corporations follow different rules.
Three things that shrink the bill
- Every legitimate expense. A $1,000 deduction saves about $141 of SE tax plus income tax at your bracket rate. Use the mileage and home office calculators to capture the big two.
- Retirement contributions. A SEP IRA or solo 401(k) lowers income tax (not SE tax) and builds savings.
- Health insurance premiums you pay yourself are deductible above the line. See the health insurance deduction page.
2026 numbers used here
Social Security wage base $184,500 (SSA). Standard deduction $16,100 single, $32,200 joint, $24,150 head of household. QBI threshold $201,750 single, $403,500 joint, with the wider phase-in ranges and the new $400 minimum deduction from the One Big Beautiful Bill Act (Rev. Proc. 2025-32). Switch to 2025 above to see last year's figures.
Questions freelancers ask
How much tax does a self-employed person pay?
Two federal taxes stack up: self-employment tax of 15.3% on 92.35% of your net profit (Social Security plus Medicare), and regular income tax at your bracket rates on what remains after deductions. For a single filer netting $75,000 in 2026 with no other income, the combined federal bill is roughly $15,500, about 21% of profit. State tax, if any, comes on top.
Is the self-employed tax calculator based on gross or net income?
Net. Self-employment tax and income tax are both figured on net profit: what clients paid you minus ordinary and necessary business expenses (Schedule C). That is why tracking deductions matters twice: each deductible dollar saves SE tax and income tax.
What is the QBI deduction and do I qualify?
The qualified business income deduction (IRC Section 199A) lets most sole proprietors deduct up to 20% of their business profit from taxable income. Below the 2026 threshold ($201,750 single, $403,500 joint) nearly every freelancer qualifies in full. It reduces income tax only, not self-employment tax.
Do I have to pay quarterly estimated taxes?
The IRS expects estimated payments if you will owe $1,000 or more when you file. Payments are due April 15, June 15, September 15 and January 15. Paying at least 100% of last year's total tax (110% if your AGI was over $150,000) in four equal parts protects you from the underpayment penalty.
What percentage of 1099 income should I save for taxes?
A common rule of thumb is 25–30% of net profit for federal taxes, more in high-tax states. Your true number depends on your bracket; the calculator above shows the exact share of each dollar you should set aside.
Does this calculator include state income tax?
Optionally. Enter your state's approximate flat or effective rate under "More details" and the calculator applies it to your adjusted gross income. States compute tax differently, so treat the state figure as a rough estimate.