Six free calculators built on 2026 IRS rates. No signup. No fluff. Just accurate numbers.
Select a calculator to get started. All figures use 2026 tax-year data.
Enter your net self-employment profit to instantly calculate the 15.3% SE tax (Social Security + Medicare), the 50% deductible portion, and your net tax impact.
Calculates: SE tax owed, deductible half, effective rate, and Schedule SE figures.
Use CalculatorDetermine exactly how much to send the IRS each quarter to stay penalty-free. Accounts for filing status, self-employment income, deductions, and safe harbor rules.
Calculates: Per-quarter payment amounts, annual estimate, safe harbor thresholds.
Use CalculatorFind the income level where electing S-Corp status saves money on payroll taxes versus operating as a sole proprietor, single-member LLC, or partnership.
Calculates: SE tax savings, payroll tax costs, net savings, and break-even point.
Use CalculatorEstimate a defensible reasonable salary for your industry to satisfy IRS requirements, minimize audit risk, and maximize your tax-advantaged distributions.
Calculates: Industry salary benchmarks, payroll tax on salary, and net distribution tax treatment.
Use CalculatorCompare the real take-home pay between a 1099 contractor offer and a W-2 employee offer. Accounts for self-employment tax, business deductions, and employer benefits.
Calculates: Net take-home for each scenario, SE tax burden, and equivalent gross rates.
Use CalculatorEstimate your total Schedule C deductions including home office, mileage, health insurance premiums, SEP-IRA / Solo 401(k) contributions, and the QBI deduction.
Calculates: Total deductions, taxable income reduction, and estimated tax savings.
Use CalculatorCommon questions about self-employment tax calculations.
Self-employment (SE) tax is calculated on 92.35% of your net self-employment income (net profit from Schedule C). The IRS multiplies your net profit by 0.9235 before applying the tax rate to account for the employer-equivalent portion of FICA taxes.
The 2026 SE tax rate is 15.3%: 12.4% Social Security (on the first $184,500 of self-employment income) plus 2.9% Medicare (no cap). An additional 0.9% Medicare surtax applies to earnings above $200,000 (single) or $250,000 (married filing jointly).
Example: $80,000 net profit × 0.9235 = $73,880 SE income × 15.3% = $11,304 SE tax. You may then deduct half ($5,652) from gross income on Schedule 1.
A common rule of thumb is to set aside 25–35% of every self-employment payment, depending on your effective federal and state tax rates. This covers both self-employment tax and federal income tax.
To avoid an IRS underpayment penalty, you must satisfy one of two safe harbors by paying:
Use our Quarterly Estimated Tax Calculator for a personalized amount.
An S-Corp election typically makes sense when your net self-employment income consistently exceeds $50,000–$60,000 per year. Below that threshold, the administrative costs (payroll processing, additional accounting, state fees) often exceed the SE tax savings.
The savings come from splitting income: you pay yourself a “reasonable salary” subject to payroll taxes, then take the remaining profit as distributions that are not subject to the 15.3% SE tax. Use our LLC vs S-Corp Calculator to find your personal break-even point.
As a W-2 employee, your employer pays half of your FICA taxes (7.65%) and withholds the other half from your paycheck. You receive benefits like employer health insurance (pre-tax), 401(k) matches, and other perks that reduce your taxable income.
As a 1099 contractor, you pay the full 15.3% SE tax yourself (though half is deductible). However, you can deduct all ordinary and necessary business expenses, home office costs, mileage, and health insurance premiums directly against your income.
To compare offers on equal footing, a 1099 rate typically needs to be 25–35% higher than a W-2 salary to yield the same take-home pay.
Yes. All calculators use 2026 IRS figures: the 15.3% SE tax rate, the $184,500 Social Security wage base, the $16,100 standard deduction (single), current income tax brackets, and the $0.70/mile standard mileage rate.
That said, these tools are for estimation purposes only. Your actual tax liability depends on many factors including state taxes, credits, alternative minimum tax, and other income sources. Always consult a qualified tax professional for advice specific to your situation.