Quarterly Estimated Tax Calculator
Quarterly Estimated Tax Calculator — Self-Employment Tax
The Schedule SE view in isolation: 15.3% on 92.35% of net profit, split into its Social Security and Medicare parts. $90,000 of profit means $12,716.60 of SE tax — $10,306.26 Social Security on the capped base plus $2,410.34 Medicare — and half of it comes back as a deduction against income tax. This is the tax that surprises first-year freelancers, because it exists even when income tax rounds to zero.
2026 quarterly estimated tax
Self-employment tax
$12,716.60
per year on Schedule SE
Breakdown
2026 estimate using the IRS Form 1040-ES method with the standard deduction only — no QBI deduction, credits, or state tax. Not tax advice; confirm with a tax professional.
The tax that starts at dollar one
Income tax has a standard deduction shielding the first $16,100; self-employment tax has no such floor. A $10,000 side profit owes about $1,413 of SE tax even if it owes no income tax at all — 92.35% of the profit times 15.3%. That's the arithmetic behind the standard advice that gig income needs money set aside from the very first invoice.
The 92.35% multiplier exists to mimic the employer-side deduction W-2 workers get, and the deductible half of SE tax completes the parallel. The Social Security portion stops at the 2026 wage base of $184,500 (W-2 wages use the cap first); the 2.9% Medicare portion never caps.
Questions
- How much is self-employment tax on $90,000?
- $12,716.60 for 2026: $10,306.26 of Social Security plus $2,410.34 of Medicare on a Schedule SE base of $83,115 (92.35% of profit).
- Why is the SE tax base 92.35% of profit instead of 100%?
- It mirrors the employee/employer split of FICA: the 7.65% employer half is excluded from the base, just as W-2 workers don't pay FICA on their employer's contribution.
More ways to use this calculator
Start with the main quarterly estimated tax calculator or compare the other published scenarios.
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