How is self-employment tax calculated for 2026?

Self-employment tax is 15.3% of 92.35% of your net profit: 12.4% for Social Security (capped at $184,500 of net earnings for 2026) and 2.9% for Medicare, which has no cap. An additional 0.9% Medicare surtax applies to self-employment earnings above $200,000 (single) or $250,000 (married filing jointly).

What is the 2026 standard deduction?

For tax year 2026, the standard deduction is $16,100 for single filers and married filing separately, $32,200 for married filing jointly, and $24,150 for head of household, per IRS Revenue Procedure 2025-32.

What is the Qualified Business Income (QBI) deduction?

The QBI deduction allows eligible self-employed individuals and small business owners to deduct up to 20% of their qualified business income, subject to income-level and business-type limitations under Section 199A.

Does a Solo 401(k) or SEP-IRA contribution reduce my tax bill?

Yes. Contributions to a Solo 401(k) or SEP-IRA are generally deducted above the line, reducing taxable income before the standard deduction and QBI deduction are applied, which lowers federal income tax owed.

How much is the Child Tax Credit for 2026?

For 2026, the Child Tax Credit is up to $2,200 per qualifying child under age 17. It phases out by $50 for every $1,000 of income above $200,000 for single or head of household filers, or $400,000 for married couples filing jointly.

Is this tax estimator accurate for my actual tax return?

This tool provides a simplified estimate using 2026 IRS figures and does not account for every deduction, credit, state tax, or individual circumstance. Consult a qualified CPA or tax professional for your actual filing.

2026 Federal Tax Estimator for LLCs & Freelancers

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Filing status

Gross business revenue

Total business expenses

Solo 401(k) / SEP-IRA contribution optional ⓘ

Qualifying dependents (under 17) optional ⓘ

Net profit $0

Estimate only, based on 2026 IRS figures (Rev. Proc. 2025‑32). Not tax advice — a CPA can confirm your actual filing.

Total federal tax owed $0

Take-home after federal tax $0

Effective tax rate ⓘ 0%

Suggested quarterly set-aside: $0 every 3 months

How this was calculated

Gross revenue$0

− Business expenses$0

= Net profit$0

Self-employment tax ⓘ$0

− ½ SE tax deduction ⓘ$0

− Retirement contribution$0

− Standard deduction ⓘ$0

− QBI deduction (20%) ⓘ$0

= Taxable income$0

Federal income tax (marginal brackets)$0

+ Self-employment tax$0

+ Additional Medicare surtax (0.9%) ⓘ$0

− Child Tax Credit ⓘ$0

= Total federal tax$0

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2026 Federal Tax Estimator

How this was calculated

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