Estimate your 2026 self-employment tax, federal income tax, and quarterly estimated payments. Includes safe harbor calculation to help you avoid underpayment penalties.
SE Tax Base: We multiply your net self-employment profit by 92.35% to determine the self-employment tax base, following IRS rules that mirror the employer/employee FICA split.
Self-Employment Tax: The SE tax rate is 15.3%: 12.4% for Social Security (on income up to $168,600 in 2026) and 2.9% for Medicare (uncapped). An additional 0.9% Medicare surtax applies above $200,000 (single) or $250,000 (married filing jointly).
Federal Income Tax: We apply 2026 marginal tax brackets to your taxable income after subtracting the standard deduction and the 50% SE tax deduction (an above-the-line deduction reflecting the employer-equivalent portion of FICA).
Safe Harbor: We compare your current year estimated tax to your prior year total tax liability. If your prior year tax is higher, we recommend paying that amount quarterly to avoid underpayment penalties per IRS safe harbor rules.
Data Sources: 2026 federal tax brackets from IRS Revenue Procedure 2025-11. Social Security wage base from SSA. SE tax rules from IRS Schedule SE instructions.
File your self-employment taxes right — TurboTax Self-Employed
Try TurboTax Self-Employed →Self-employment tax is calculated on 92.35% of your net self-employment income. This adjusted amount is called your SE tax base. The tax rate is 15.3%, split into 12.4% for Social Security (capped at $168,600 in 2026) and 2.9% for Medicare (uncapped). An additional 0.9% Medicare surtax applies to SE income exceeding $200,000 for single filers or $250,000 for married filing jointly. You can deduct half of your SE tax when calculating adjusted gross income.
The 2026 quarterly estimated tax due dates are: Q1 — April 15, 2026 (for income earned Jan–Mar); Q2 — June 16, 2026 (Apr–May); Q3 — September 15, 2026 (Jun–Aug); and Q4 — January 15, 2027 (Sep–Dec). If a due date falls on a weekend or federal holiday, the deadline shifts to the next business day. Payments are made using IRS Form 1040-ES.
The safe harbor rule helps you avoid underpayment penalties. You are safe if your total estimated payments for the year equal at least 100% of your prior year tax liability (110% if your AGI was over $150,000) or 100% of your current year tax liability, whichever is smaller. This calculator compares your current year estimate to your prior year tax and recommends the higher quarterly payment to ensure you meet safe harbor.
Yes. The IRS allows you to deduct 50% of your self-employment tax as an above-the-line deduction. This means it reduces your adjusted gross income regardless of whether you itemize. The deduction reflects the employer-equivalent portion of FICA taxes, since employees have half of their Social Security and Medicare taxes paid by their employer.
If you miss or underpay a quarterly estimated tax payment, the IRS may charge an underpayment penalty. The penalty is essentially interest on the shortfall, calculated from the payment due date until the amount is paid. The rate is the federal short-term rate plus 3 percentage points, compounded daily. You can reduce or eliminate the penalty by making a catch-up payment as soon as possible. If your income is uneven throughout the year, you may benefit from the annualized income installment method on Form 2210.