Contractor Tax Utility
Self-Employment Tax Calculator
Estimate your 2026 Social Security and Medicare burden as an independent contractor or LLC owner.
1099 Business Income
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The 92.35% Rule: The IRS allows you to deduct the "employer-equivalent" portion of your SE tax before computing the tax itself. This means you only pay the 15.3% tax on 92.35% of your net profit, not the whole amount.
Total Self-Employment Tax
$0
Payable to the IRS (Schedule SE)
Taxable SE Income Base Net Profit × 0.9235
$0
Social Security Tax (12.4%) Capped at 2026 projected limit of $175,000
$0
Medicare Tax (2.9%) No upper income limit
$0
Above-The-Line Deduction
50% of your SE tax is deductible against ordinary income
$0
2026 IRS Notice: This calculator estimates the Self-Employment Contributions Act (SECA) tax. It utilizes the projected 2026 Social Security Wage Base Limit of $175,000. It also incorporates the 0.9% Additional Medicare Surtax for net earnings exceeding $200k (Single) or $250k (Married). This tool computes SE tax only; you will still owe standard federal and state ordinary income tax on your net earnings.