Invoice calculators · Updated September 1, 2026
Self-Employed Tax Calculator (2026)
Freelance or contractor income in — the 2026 federal estimate out: self-employment tax, income tax, your quarterly payments, and the one number that matters — how much of every invoice to set aside.
Estimated 2026 tax
A planning estimate for the 2026 tax year: federal brackets and standard deduction per IRS Rev. Proc. 2025-32, the 15.3% self-employment tax with the Social Security wage base of $184,500, and a simplified 20% QBI deduction. State tax is approximated from the rate you enter. It is not tax advice — confirm your numbers with a tax professional.
Where the number comes from
Self-employment tax is 15.3% — 12.4% Social Security (on 92.35% of your net profit, up to $184,500 in 2026) plus 2.9% Medicare. Half of it is deductible. On top of that comes regular federal income tax on your profit minus the standard deduction ($16,100 single / $32,200 married in 2026) and minus the 20% qualified business income deduction most freelancers get. Nobody withholds any of this for you — which is why the habit that saves the year is simple: move your set-aside percentage of every paid invoice into a separate account the day it arrives.
The IRS expects the money quarterly, not in April: payments are due April 15, June 15 and September 15 of 2026, and January 15, 2027. Miss them and interest accrues even if you settle in full at filing time.
Self-employed tax FAQ
How much should I set aside from each invoice?
The calculator's percentage is your personal answer; 25–30% is the common rule of thumb for mid-range freelance incomes with a state income tax, and 20–25% in no-income-tax states. Better one account and a fixed percentage than a surprise in April.
Do I really have to pay quarterly?
If you expect to owe $1,000+ for the year, yes — estimated payments are how self-employment tax works. The safe-harbor shortcut: pay 100% of last year's total tax (110% at higher incomes) in four equal instalments and no penalty applies regardless of what this year brings.
What counts as business expenses?
Costs that are ordinary and necessary for the work: software, gear, insurance, a home-office share, mileage, subcontractors. Every deductible dollar cuts both income tax and self-employment tax, so keeping invoices and receipts organized pays twice.
Does this include state tax exactly?
No — states differ too much for one honest calculator. Enter your state's effective rate and it is applied to the same taxable base as an approximation; the federal math is the precise part.
