Your estimate
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This is an estimate, not a tax calculation you can file with. It uses US federal figures for the 2026 tax year from the IRS and leaves out many items, listed below. Use tax software or a tax professional for your actual return.
How it works
- Net earnings from self-employment = net profit × 92.35%.
- Social Security: 12.4% of net earnings, up to the 2026 wage base of $184,500 (Social Security Administration), reduced by W-2 wages already taxed.
- Medicare: 2.9% of all net earnings.
- You can deduct the employer-equivalent half of the tax when figuring adjusted gross income.
- If net earnings are under $400, you generally do not owe self-employment tax.
Not included: the Additional Medicare Tax that can apply at higher incomes, church employee income and optional methods. See the self-employed tax guide.
FAQ
What is the self-employment tax rate?
15.3%: 12.4% Social Security and 2.9% Medicare, applied to 92.35% of net earnings.
Do I pay self-employment tax on all my profit?
On 92.35% of net profit. The Social Security part stops at the annual wage base.
When do I have to pay it?
Through quarterly estimated payments and your annual return. Use the quarterly estimated tax calculator.
Not advice: General information only, not tax, legal or financial advice. Consult a qualified tax professional. We may earn a commission from some links on this site; it never affects our scores or this content. Read our affiliate disclosure.