Free tool · no signup
Self-employment tax calculator
1099 income? Estimate your self-employment tax, your income-tax set-aside, and what to send the IRS each quarter — so April never surprises you. Useful for any independent licensed pro.
Your 1099 income after business expenses (your profit).
Your estimated federal marginal rate (e.g. 12, 22, 24). Excludes state tax.
Optional — fine-tune the estimate
W-2 wages reduce how much SE income is hit by the 12.4% Social Security portion. The wage base changes yearly — confirm the figure for your tax year.
Enter your net income to estimate what to set aside.
How the estimate works
Self-employment tax covers both halves of Social Security and Medicare. It's charged on 92.35% of your net profit — 12.4% for Social Security (up to the annual wage base) and 2.9% for Medicare:
SE tax = (net × 0.9235) × (12.4% up to the cap + 2.9%)
On top of that, you owe income tax at your bracket (half of the SE tax is deductible first). We total the two and divide by four for a quarterly number. This is a federal estimate only — it ignores deductions, credits, and state tax, and it isn't tax advice. Confirm the current IRS figures and your situation with a CPA.