Self-Employed Tax Calculator (1099)
Freelancers and contractors pay both halves of Social Security and Medicare — the 15.3% self-employment tax — on top of income tax. See what you actually keep for tax year 2026.
$
Net profit = business income minus business expenses.
State
Filing status
Estimated take-home
$67,712
$5,643 / month
Net profit$90,000
Self-employment tax (15.3%)− $12,717
Federal income tax− $9,571
State income tax− $0
Total tax− $22,288
Effective tax rate24.8%
Take-home$67,712
How self-employment tax works
When you're self-employed, the IRS treats you as both employer and employee, so you pay the full 15.3% (12.4% Social Security up to the wage base + 2.9% Medicare) on 92.35% of your net profit. You can deduct half of that self-employment tax before calculating federal and state income tax. This estimate does not include the QBI deduction, estimated quarterly payment timing, or business retirement plans — it's a starting point, not tax advice.