Self-Employment Tax Calculator

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$0$400,000

1099-NEC, 1099-K and other self-employment income for the year

$

Deductible costs: equipment, software, home office, mileage…

$
Filing status

Self-employment tax

$10,597.16

Net profit

$75,000

Federal income tax on the business

$4,898

Quarterly estimated payment

$3,874

Set aside from profit

20.7%

Social Security (12.4%)$8,588.55Medicare (2.9%)$2,008.61Additional Medicare (0.9%)$0.00Federal income tax$4,897.74
Net earnings subject to SE tax (92.35%)$69,263
Deduction for half of SE tax−$5,299
Qualified business income deduction (20%)−$10,720
Standard deduction−$16,100
Taxable income$42,881

2026 federal estimate. State income tax is not included. The QBI deduction is simplified (assumes income below the limits where it phases out for service businesses). Estimated payments are due in April, June, September and January.

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