Self-employment tax is separate from income tax
If you earn 1099 / Schedule C income, you generally pay self-employment tax (Social Security + Medicare on 92.35% of net earnings) plus federal and state income tax. There is no employer withholding — so most people also plan quarterly estimates.
2026 planning numbers
Our calculator uses the 2026 Social Security wage base ($184,500), Additional Medicare thresholds, Rev. Proc. 2025-32 QBI thresholds, and optional wage/UBIA limitation for high earners and SSTBs.
Frequently asked questions
What is the SE tax rate?
Generally 15.3% (12.4% SS + 2.9% Medicare) on 92.35% of net, with SS capped at the wage base.
Do I get a QBI deduction?
Section 199A can allow up to 20% of QBI, subject to thresholds and wage limits.
When are quarterlies due?
Typically Apr 15, Jun 15, Sep 15, and Jan 15 of the following year (confirm IRS calendar).
Is this the same as a W-2 paycheck calculator?
No — use the paycheck tool for W-2 wages.