Self-Employment Tax Calculator
How much do freelancers actually pay in SE tax? This calculator breaks down the 15.3% self-employment tax, including the 92.35% adjustment and the one-half deduction most people miss.
Self Employment Tax Calculator
Calculate your 1099 self employment tax and estimated federal income tax
You can deduct $3,532 (50% of SE tax) from your taxable income on Form 1040 Schedule 1. This has been applied above.
Note: Uses 2026 IRS brackets and standard deduction ($16,100 single / $32,200 MFJ). Social Security cap: $184,500. Includes 0.9% Additional Medicare Tax on SE income above $200K (single) / $250K (MFJ). Does not include QBI deduction, itemized deductions, or state taxes.
Frequently Asked Questions
How is self-employment tax calculated?+
Self-employment tax is 15.3% of your net self-employment income: 12.4% for Social Security (on the first $184,500 in 2026) plus 2.9% for Medicare (with no income limit). The IRS lets you calculate on 92.35% of net earnings, and you can deduct half of the SE tax from your gross income.
Do freelancers pay both self-employment tax and income tax?+
Yes. Self-employment tax covers Social Security and Medicare (the employer + employee portions). Federal income tax is separate and calculated on your taxable income after deductions. You pay both — but the SE tax deduction and business expense deductions reduce your income tax.
Can I deduct half of my self-employment tax?+
Yes. The IRS allows you to deduct 50% of your self-employment tax as an adjustment to income on your 1040. This deduction is automatic — you don't need to itemize to claim it.
How is self-employment tax calculated?
Self-employment tax is 15.3% of your net self-employment income: 12.4% for Social Security (on the first $184,500 in 2026) plus 2.9% for Medicare (with no income limit). The IRS lets you calculate on 92.35% of net earnings, and you can deduct half of the SE tax from your gross income.