Estimate your self-employment tax, federal income tax & quarterly payments, updated for Tax Year 2026
Pay via IRS Direct Pay or Form 1040-ES. Subtract W-2 withholding from total.
Before you ask
Self-employment tax of 15.3% on net earnings covers Social Security and Medicare, on top of ordinary federal income tax at your bracket. State tax may apply separately depending on where you live.
If you expect to owe a meaningful amount for the year, the IRS expects estimated payments four times a year. Waiting until April usually means an underpayment penalty on top of the tax.
Ordinary and necessary business expenses, software, equipment, a portion of home internet and phone, mileage for business travel, and the home office deduction if you have a dedicated space. Keep receipts; deductions without records do not survive an audit.
Yes. The standard deduction reduces your income tax but not self-employment tax, which is why side-hustle income often produces a larger bill than people expect.
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