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Self-employed tax calculator: how much to set aside
Updated October 28, 2026 ยท 2026 federal figures
Many self-employed people set aside 25% to 30% of their profit for federal taxes. This free calculator gives a closer estimate for 2026: enter your yearly sales and expenses and it works out federal self-employment tax, federal income tax, the total, what to put aside from every $100 you take in, and a quarterly payment. For example, a single filer with $60,000 of profit sets aside about $12,989 (21.6%).
Worked examples for 2026 (single filer, profit after expenses)
| Profit | Self-employment tax | Income tax | Total | Share of profit | Per quarter |
|---|---|---|---|---|---|
| $30,000 | $4,239 | $1,178 | $5,417 | 18.1% | $1,354 |
| $50,000 | $7,065 | $3,396 | $10,461 | 20.9% | $2,615 |
| $75,000 | $10,597 | $6,504 | $17,101 | 22.8% | $4,275 |
| $100,000 | $14,130 | $11,616 | $25,745 | 25.7% | $6,436 |
How the estimate is worked out
- Net profit is sales minus business expenses.
- Self-employment tax is 15.3% (12.4% Social Security up to $184,500 of earnings, plus 2.9% Medicare) on 92.35% of net profit. There is no self-employment tax under $400 of net earnings.
- Taxable income is net profit, minus half of the self-employment tax, minus the standard deduction ($16,100 single, $32,200 married filing jointly).
- Income tax is then applied bracket by bracket. For a single filer in 2026: 10% up to $12,400, 12% up to $50,400, 22% up to $105,700, 24% up to $201,775, 32% up to $256,225, 35% up to $640,600, 37% above that.
- An extra 0.9% Medicare tax applies to earnings above $200,000 (single) or $250,000 (married filing jointly).
Sources: the IRS inflation adjustments for 2026 (Revenue Procedure 2025-32) and the Social Security Administration's 2026 wage base. For your own return, see the IRS page on self-employment tax.
Make it automatic
The Taxes tab in QuickBizTrack does this from the sales you log, quarter by quarter, so the number is always current. It also tracks the estimated payments you have made. See the estimated tax due dates.
Common questions
How much should a self-employed person set aside for taxes?
A common rule of thumb is 25% to 30% of profit. It depends on your income: for 2026, a single filer with $60,000 of profit owes about $12,989 in federal tax (21.6%), made up of $8,478 of self-employment tax and $4,511 of income tax, before any state tax.
What is self-employment tax?
It is the Social Security and Medicare tax that employees and employers normally split. When you work for yourself you pay both halves: 15.3% (12.4% Social Security plus 2.9% Medicare) on 92.35% of your net profit. Social Security tax applies only to the first $184,500 of earnings in 2026.
Does this include state taxes?
No. It covers federal self-employment tax and federal income tax only. Many states also tax income, so add your state's rate on top, or ask a local tax professional.
Why might my real tax be lower than this estimate?
This calculator leaves out the qualified business income deduction (up to 20% of qualified business income, which many sole proprietors can claim), credits, and any other income or deductions you have. Leaving them out means the estimate errs toward setting aside more.
How do I pay it?
Through estimated tax payments four times a year, or by increasing withholding at another job. See the estimated tax due dates page for the 2026 schedule.
Know what to set aside, all year
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