Self-Employment Tax Calculator 2026 (1099 & Quarterly Taxes)

How self-employment tax works in 2026

When you work for yourself, you pay both halves of Social Security and Medicare, which an employer would normally split with you. That's the 15.3% self-employment tax, and it applies on top of regular income tax.

It isn't charged on your whole profit. You multiply net profit by 92.35% first. The 12.4% Social Security part stops at $184,500 of combined wages and self-employment earnings, while the 2.9% Medicare part has no cap. High earners pay another 0.9%.

Then income tax: half of your SE tax is deducted, along with the standard deduction and, for most freelancers, the 20% qualified business income (QBI) deduction. What's left is taxed at the 2026 rates of 10% to 37%.

Worked example

A single freelancer earns $60,000 with $4,000 of expenses, for a net profit of $56,000:

• SE tax: $56,000 × 92.35% = $51,716, × 15.3% = $7,912.54
• Income tax: $56,000 − $3,956.27 (half of SE tax) − $16,100 standard deduction − $7,188.75 QBI = $28,754.98 taxable, so $3,202.60 in income tax
• Total: $11,115.14, or about $2,501 per quarter