About this calculator
Self-employed workers pay the full 15.3% FICA rate themselves — the employer share that a salaried employee never sees. For tax year 2026 that rate applies to 92.35% of your net self-employment earnings.
How it works
The calculator follows the IRS sequence: apply the 92.35% factor to your net profit, apply 15.3% to that figure (capping the 12.4% Social Security portion at the $184,500 wage base), deduct half of the result, then run the remaining income through the 2026 federal brackets.
Frequently asked questions
What is the self-employment tax rate for 2026?
The 2026 self-employment tax rate is 15.3% on 92.35% of net earnings: 12.4% Social Security up to the $184,500 wage base, plus 2.9% Medicare with no cap. An additional 0.9% Medicare tax applies above $200,000 of combined income for single filers and $250,000 for married filing jointly.
What is the Social Security wage base for 2026?
The 2026 wage base is $184,500. Only the 12.4% Social Security portion stops there; the 2.9% Medicare portion applies to every dollar of net self-employment earnings.
How much of my self-employment tax can I deduct?
50% of the self-employment tax is deductible as an adjustment to income on Form 1040 via Schedule 1. The deductible half covers the Social Security and Medicare portions, but not the 0.9% Additional Medicare Tax.
When are 2026 quarterly estimated tax payments due?
For tax year 2026 the deadlines are April 15, June 15, September 15, 2026, and January 15, 2027. Pay at least 90% of your current-year tax to avoid the underpayment penalty.
Do I owe self-employment tax below a certain amount?
Self-employment tax is due only when net earnings from self-employment reach $400 or more in the year. Below that you still owe income tax, but no Social Security or Medicare contribution.
Is self-employment tax the same as federal income tax?
No. Self-employment tax funds Social Security and Medicare, standing in for the FICA an employer would otherwise pay half of. Federal income tax is separate. Freelancers pay both.
Can I legally reduce my self-employment tax?
Yes. Every legitimate business deduction lowers your net profit and therefore your self-employment earnings. Common deductions include a home office, business mileage at the standard rate, health insurance premiums, and retirement plan contributions.