Free calculator · tax year 2026
Self-employment tax calculator
Enter your net profit from Schedule C. You get the Social Security and Medicare you owe as a self-employed person, with the 2026 Social Security cap of $184,500 applied, and the half you can deduct.
How the calculation works
- Net earnings = net profit × 92.35%.
- Social Security = 12.4% of net earnings, up to $184,500 for 2026 minus any W-2 wages that already paid Social Security.
- Medicare = 2.9% of all net earnings.
- Self-employment tax = Social Security + Medicare. Half of it is an adjustment to income on your Form 1040.
- Additional Medicare Tax = 0.9% of net earnings above $200,000 / $250,000 joint / $125,000 separate (less your W-2 wages). Shown only when it applies.
Worked example: $60,000 profit × 92.35% = $55,410. 12.4% of that is $6,870.84 and 2.9% is $1,606.89, so the self-employment tax is $8,477.73 and the deductible half is $4,238.87.
2026 figures used
| Figure | 2026 value | Source |
|---|---|---|
| Social Security wage base | $184,500 | SSA contribution and benefit base; 2026 Form 1040-ES |
| Net earnings factor | 92.35% | 2026 Form 1040-ES, self-employment tax worksheet |
| Rates | 12.4% + 2.9% = 15.3% | 2026 Form 1040-ES worksheet |
| Additional Medicare Tax | 0.9% over $200,000 / $250,000 / $125,000 | IRS Questions and answers for the Additional Medicare Tax |
Checked on November 12, 2026 against IRS Form 1040-ES (2026), the SSA contribution and benefit base and the IRS Additional Medicare Tax Q&A.
Know your net profit before tax time
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Questions
What is the self-employment tax rate for 2026?
15.3% of your net earnings from self-employment: 12.4% Social Security and 2.9% Medicare. Net earnings are 92.35% of your net profit. The Social Security part stops at the 2026 wage base of $184,500.
Why 92.35% of profit?
An employee pays tax only on wages, not on the employer's half of payroll tax. Taking 92.35% (100% minus half of 15.3%) puts self-employed people on the same footing.
Can I deduct self-employment tax?
Half of it. The deductible half reduces your adjusted gross income on Form 1040 (Schedule 1). It does not reduce the self-employment tax itself.
Do I owe self-employment tax if I made very little?
Not if your net earnings from self-employment (92.35% of profit) are under $400 for the year. You may still need to file an income tax return.
What is the Additional Medicare Tax?
An extra 0.9% on wages and self-employment income above $200,000 (single or head of household), $250,000 (married filing jointly) or $125,000 (married filing separately). It is reported on Form 8959, is separate from self-employment tax, and is not part of the deductible half.
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Related reading: Schedule C guide · Business tax deductions · How to track mileage between jobs