Your Information
Total 1099 income before expenses
Deductible business expenses
Income from other sources
Deductions
SEP-IRA, Solo 401(k), etc.
Quarterly Payments Already Made
Due April 15
Due June 15
Due September 15
Due January 15 (next year)
Taxes withheld from W-2 jobs
Total Tax Due
$16,044
For the tax year
Effective Tax Rate
22.9%
22% marginal rate
Set Aside Monthly
$1,337
~23% of income
Quarterly Payment
$4,011
Each quarter
Underpayment Penalty Risk
Your payments are less than 90% of your tax liability. You may face an estimated penalty of approximately $1,155.
Consider making a catch-up payment of $16,044 before the deadline.
Tax Breakdown
Tax Breakdown Details
Quarterly Estimated Payments
Quarterly Payment Schedule
Income & Deductions Summary
Tax Summary
Quick Answer: What is Self-Employment Tax?
Self-employment tax is 15.3% of net earnings (12.4% Social Security + 2.9% Medicare). Unlike W-2 employees, self-employed individuals pay both the employee and employer portions. You can deduct half of SE tax when calculating income tax. Quarterly estimated taxes are due April 15, June 15, September 15, and January 15. A common rule is to set aside 25-30% of net income for taxes.
Key Facts
- Self-employment tax rate is 15.3% (12.4% Social Security + 2.9% Medicare)
- Additional 0.9% Medicare tax on income over $200,000 (single)
- You can deduct half of SE tax when calculating income tax
- Quarterly payments due: April 15, June 15, September 15, January 15
- Set aside 25-30% of net self-employment income for taxes
- SEP-IRA and Solo 401(k) contributions reduce taxable income
- Self-employed health insurance premiums are tax deductible
What if your income changed?
See how different income levels affect your self-employment tax
SE Tax (est.)
$9,891
Personalized Insights
4 insights based on your inputs
Self-Employment Tax Rate
SE tax is 14.1% of net income (15.3% × 92.35%). Half is deductible, saving ~$1,088 in income tax.
Quarterly Payments
Pay $4,011 each quarter to avoid underpayment penalties. Mark due dates: Apr 15, Jun 15, Sep 15, Jan 15.
Monthly Set-Aside
Set aside $1,337 monthly (~23% of income) in a separate account for taxes.
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Frequently Asked Questions
What is self-employment tax?
Self-employment tax consists of Social Security (12.4%) and Medicare (2.9%) taxes, totaling 15.3%. Unlike W-2 employees who split these taxes with their employer, self-employed individuals pay both portions. However, you can deduct half of SE tax when calculating income tax.
How do I calculate quarterly estimated taxes?
Divide your expected annual tax liability by 4. Quarterly payments are due April 15, June 15, September 15, and January 15. You generally need to pay either 90% of current year taxes or 100% of prior year taxes (110% if income over $150k) to avoid underpayment penalties.
What percentage should I set aside for taxes?
A common rule of thumb is 25-30% of net self-employment income. However, this varies based on your total income, deductions, and filing status. Use this calculator to get a personalized recommendation based on your specific situation.
Can I reduce my self-employment tax?
Yes! SEP-IRA or Solo 401(k) contributions reduce your taxable income. Health insurance premiums are deductible. Business expenses reduce your net SE income. Consider forming an S-Corp at higher income levels to potentially reduce SE tax.
What is the additional Medicare tax?
An additional 0.9% Medicare tax applies to self-employment income over $200,000 (single) or $250,000 (married filing jointly). This is on top of the regular 2.9% Medicare tax.
Do I need to pay state taxes too?
This calculator covers federal taxes only. Most states have their own income tax (except states like TX, FL, WA, etc.). Check your state's requirements - you may need to make separate quarterly state estimated payments.
How this works
Calculations are run entirely in your browser. No inputs are sent to our servers and no account is required. Formulas follow standard US definitions from the IRS and the CFPB where applicable; international users should confirm local tax and regulatory rules apply.
What this tool can’t do
When to consult a professional
This is a software engineering tool, not financial advice. Run the math here, then take the result to a certified financial planner, CPA, or your bank before making a decision that materially affects your money.
Sources
- [1]Consumer Financial Protection Bureau (CFPB)Official sourceconsumerfinance.govAccessed Apr 21, 2026
US consumer finance regulator; authoritative on mortgage disclosures, APR rules, credit cards.
Full-stack software engineer specializing in embedded systems, web architecture, and AI/ML. Founder of Practical Web Tools. Built the gesture-controlled drone IP acquired by KD Interactive (Aura Drone, sold on Amazon).