Self Employment Tax Calculator
The self employment tax calculator estimates your 1099 contractor taxes: self-employment tax (15.3%), federal income tax, state income tax, and quarterly payment amounts.
📅 Q2 — June 15
📅 Q3 — September 15
📅 Q4 — January 15 (next year)
How the Self Employment Tax Calculator Works
The self employment tax calculator estimates all taxes owed as a 1099 independent contractor: self-employment (SE) tax, federal income tax, and state income tax. SE tax is 15.3% applied to 92.35% of your net profit — covering both the employer and employee portions of Social Security (12.4%) and Medicare (2.9%). Unlike W-2 employees whose employers pay half, contractors pay the full amount. Our self employment tax calculator also estimates quarterly payment amounts so you never miss an IRS deadline.
Key Self-Employment Tax Deductions
- 50% of SE tax: Deductible from gross income — automatically applied in this self employment tax calculator
- Qualified Business Income (QBI): Up to 20% of qualified business income deduction
- Home office: Dedicated workspace — simplified method ($5/sq ft) or actual expenses
- Business equipment & software: Computers, tools, subscriptions
- Health insurance premiums: Fully deductible if not eligible for employer coverage
- SEP-IRA contributions: Up to $69,000/year — best contractor retirement account
- Business mileage: 67¢/mile for business driving (current IRS rate)
Quarterly Estimated Taxes
The self employment tax calculator estimates your quarterly payment so you can budget accordingly. Pay using IRS Direct Pay or EFTPS by April 15, June 15, September 15, and January 15. Underpayment incurs an IRS penalty. The safe harbor rule: pay at least 100% of last year's total tax (110% if income exceeded $150,000). Compare net self-employment income with W-2 income using our salary after tax calculator.