Self-Employed Tax Set-Aside Calculator

How to use it

If you work for yourself in the US, no employer holds back Social Security and Medicare from your pay. Self-employment tax covers both, and it's figured on your net profit. This page estimates that one tax so you have a rough number to plan around. It covers federal self-employment tax only, not income tax or state tax.

1. Enter your net profit from self-employment

This is your self-employment income minus your ordinary business expenses for the year. If the year isn't over, you can enter a projection for the full year, or run the calculator with your profit so far.

2. Enter W-2 wages, if any

If you also have a job that pays W-2 wages, enter them. Social Security tax applies only up to a yearly wage base, and wages from a job use up part of it. The calculator uses your W-2 wages only to work out how much of the wage base is left for self-employment earnings. Leave it at 0 if you have no W-2 job.

3. Add a buffer (optional)

Extra buffer (%) adds a cushion on top of the self-employment tax estimate, as a percent of that estimate. It's there if you'd like your set-aside to run a bit high. Leave it at 0 for the estimate on its own.

How the estimate works

The steps follow the method on Schedule SE, using the figures dated on this page:

• Net earnings = net profit × 92.35%.
• If net earnings are under $400, the estimate is $0.
• Social Security = 12.4% of net earnings, up to the 2026 wage base of $184,500 minus any W-2 wages.
• Medicare = 2.9% of all net earnings.
• SE tax estimate = Social Security + Medicare. Together the two rates make up the 15.3% self-employment tax rate.
• Set aside for the year = SE tax estimate + your buffer. Per quarter is that amount ÷ 4.
• Share of profit is the set-aside as a percent of your net profit.

Each step is rounded to the cent. The page also shows half of SE tax for your records; it isn't used anywhere else in the estimate.

What it leaves out

This is a set-aside estimate, not a tax return. It doesn't include federal income tax, the additional 0.9% Medicare tax, credits, or state and local taxes, so the total you owe for the year will usually be different from this number. The per-quarter figure is the yearly amount split evenly. It isn't a calculation of required estimated payments, due dates or penalties.

Where the figures come from

The rates, the 92.35% factor, the $400 threshold and the $184,500 wage base were read from irs.gov and are listed with their dates under the calculator. Tax figures can change from year to year, so check the dates and the IRS pages before relying on a number, and talk with a tax professional about your own situation.

Worked example

These are the numbers loaded by Try an example:

• Net profit from self-employment: $48,000
• W-2 wages: $0
• Extra buffer: 10%

Results:

• Net earnings: $48,000 × 92.35% = $44,328.00
• Social Security: $44,328.00 × 12.4% = $5,496.67 (well under the $184,500 wage base)
• Medicare: $44,328.00 × 2.9% = $1,285.51
• SE tax estimate: $6,782.18
• Half of SE tax: $3,391.09
• Buffer: 10% of $6,782.18 = $678.22
• Set aside for the year: $7,460.40, about $1,865.10 per quarter
• Share of profit: 15.5%

FAQ

Why is profit multiplied by 92.35%?

That's the Schedule SE step for finding net earnings from self-employment. The self-employment tax rates are then applied to that amount, not to the full profit.

What happens if my net earnings are under $400?

The estimate shows $0. The IRS threshold for self-employment tax is $400 of net earnings, and the calculator applies it to net earnings after the 92.35% step.

Why does a W-2 job change the result?

Social Security tax stops at a yearly wage base ($184,500 for 2026). Wages from a job count toward it first, which can leave less of the base for self-employment earnings. Medicare has no wage base, so it isn't affected.

Is this the total tax I'll owe?

No. It's federal self-employment tax only. Income tax, the additional Medicare tax, credits and state taxes aren't included.