Self-Employed Tax Calculator 2026
Comprehensive tax calculator for freelancers, independent contractors, and self-employed individuals. Calculate income tax, self-employment tax, and maximize your business deductions.
Self-Employed Tax Calculator
Self-Employment Tax Rate
Social Security: 12.4% (up to $168,600)
Medicare: 2.9% (no limit)
Total: 15.3%
Quarterly Payments
Self-employed individuals must make quarterly estimated tax payments on:
• April 15 • June 15 • September 15 • January 15
2026 Federal Tax Brackets - Single
| Taxable Income | Tax Rate | Tax Amount |
|---|---|---|
| $0 - $11,600 | 10% | - |
| $11,600 - $47,150 | 12% | - |
| $47,150 - $100,525 | 22% | - |
| $100,525 - $191,950 | 24% | - |
| $191,950 - $243,725 | 32% | - |
| $243,725 - $609,350 | 35% | - |
| $609,350 - ∞ | 37% | - |
Self-Employment Tax Planning Tips
Tax Reduction Strategies
- • Maximize business expense deductions
- • Consider forming an LLC or S-Corp
- • Contribute to retirement accounts (SEP-IRA, Solo 401k)
- • Use health savings accounts (HSA)
- • Track all business-related expenses
Quarterly Payment Tips
- • Set aside 25-30% of income for taxes
- • Use Form 1040-ES for payments
- • Consider using tax software or professionals
- • Keep detailed records of all payments
- • Plan for seasonal income fluctuations
Understanding Self-Employment Taxes
Self-Employment Tax
Self-employment tax is 15.3% of your net earnings, which covers both Social Security (12.4%) and Medicare (2.9%). This is essentially the employer and employee portions combined.
For 2026, Social Security tax only applies to the first $168,600 of net earnings, but Medicare tax applies to all net earnings.
Income Tax
Self-employed individuals must pay income tax on their net earnings (gross income minus business expenses). The tax rates are the same as for employees, but you can deduct business expenses.
You can also deduct half of your self-employment tax from your income tax calculation.
Quarterly Payments
Self-employed individuals must make quarterly estimated tax payments to avoid penalties. These payments are due on April 15, June 15, September 15, and January 15.
Calculate your estimated tax liability and divide by four to determine each payment amount.
Common Business Deductions
Home Office & Equipment
- •Home office deduction (simplified or actual expenses)
- •Computers, software, and office equipment
- •Internet and phone expenses (business portion)
- •Office supplies and furniture
Business Operations
- •Professional development and training
- •Business insurance and licenses
- •Travel and meal expenses (50% deductible)
- •Marketing and advertising costs
Self-Employment Tax Planning
Tax Reduction Strategies
- •Maximize business expense deductions
- •Consider forming an LLC or S-Corp
- •Contribute to retirement accounts (SEP-IRA, Solo 401k)
- •Use health savings accounts (HSA)
Important Deadlines
- •April 15: Q1 estimated tax payment
- •June 15: Q2 estimated tax payment
- •September 15: Q3 estimated tax payment
- •January 15: Q4 estimated tax payment