Enter payments received and business expenses; TaxMathKit calculates net profit, the 92.35% base, Social Security and Medicare automatically.
The example shows the required inputs. Replace only the values that apply to you.
This isolates 2026 self-employment tax. Use the 1099 calculator for a combined federal income-tax estimate.
IRS Topic 554 and 2026 Social Security wage base reviewed August 6, 2026
Profit after business expenses—not gross receipts
Convert profit to net earnings for the regular SE-tax calculation
Reduce Social Security room by entered W-2 wages
Estimate Social Security and Medicare components
Add applicable Additional Medicare Tax estimate
Show the employer-equivalent income adjustment separately
See a worked example for the situation closest to yours.
Net earnings subject to SE tax = net profit × 92.35%. Social Security and Medicare components then apply, with W-2 wages using the Social Security wage-base room first.
Enter business profit after ordinary and necessary expenses. If you also have W-2 wages, enter them so the Social Security wage-base limit is applied correctly.
This calculator focuses on SE tax. The 1099 calculator adds a simplified federal income-tax estimate.
Result: $8,477.73 estimated self-employment tax and about $4,238.87 as the employer-equivalent-half deduction, before Additional Medicare Tax or special methods.
Tax law depends on facts this tool cannot collect. Do not use the result as the sole basis for filing, withholding or payment decisions.
IRS Schedule SE generally multiplies net self-employment earnings by 92.35% under the regular method.
Generally, the employer-equivalent half is deductible when figuring adjusted gross income. That deduction does not reduce the SE tax itself.
Use a worked example or read about a rule that affects the result.
Trace a freelancer estimate from $90,000 of receipts through business profit, self-employment tax, income-tax inputs, and quarterly cash planning.
Read the guide →Unpack the regular Schedule SE base, the Social Security and Medicare pieces, the wage-base interaction, and the employer-equivalent deduction.
Read the guide →Compare business profit with employee wages without ignoring employer payroll tax, benefits, expenses, withholding, or worker-classification rules.
Read the guide →Avoid confusing a cash reserve, an equal quarterly budget, a current-year estimate, and the federal required annual payment.
Read the guide →Plan a 1099 tax reserve from business profit, W-2 withholding and a typical payment—then compare the annual and quarterly federal estimate.
Enter expected wages, freelance payments and expenses; TaxMathKit estimates total tax and chooses an available federal safe-harbor method.
Estimate federal income tax, then compare it with withholding and payments to see a projected refund or amount owed.