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Self-employment tax calculator
Enter your expected net profit (income minus expenses) and see what you owe in self-employment tax and federal income tax for 2026. Ungated, instant, nothing to sign up for.
Federal figures for tax year 2026: self-employment tax of 15.3% on 92.35% of net profit (12.4% Social Security up to the $184,500 wage base, 2.9% Medicare), half of self-employment tax deducted from income, standard deduction of $16,100 single, $32,200 married filing jointly, $24,150 head of household, the 20% qualified business income deduction, and 2026 federal brackets. State income tax is not included. Estimates only; confirm with a tax professional. Figures should be verified against the final IRS inflation adjustments before relying on them.
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FAQ
Questions, answered
What is self-employment tax?
Social Security and Medicare tax paid by people who work for themselves. Employees split it with their employer (7.65% each). Self-employed people pay both halves, 15.3%, on 92.35% of net profit. You then deduct half of it from income.
Does this include state tax?
No. State income tax varies from zero (Texas, Florida, Washington and others) to over 13% (California). Add your state's rate on top.
Why is my income tax lower than I expected?
Two reasons: the standard deduction, and the 20% qualified business income deduction that most self-employed people qualify for. Both are applied here.
How do I reduce this?
Track every deductible expense (that is what ProfitBooks does from your statements), fund a SEP IRA or Solo 401k, deduct health insurance premiums, and if profit is well above $60,000, run the S corp calculator.
Stop estimating. Know your real numbers.
Upload your bank statements and ProfitBooks builds the profit and loss these calculators are guessing at. 100 free credits to start, $20 a month, billed annually, after that.