Self-Employment Tax Set-Aside Calculator
Enter your expected 1099 income and tax bracket. The calculator stacks self-employment tax - 15.3 percent on 92.35 percent of net profit - with income tax, and hands back the percentage of every payment to set aside.
New freelancers discover the SE tax the expensive way: self-employed income pays both halves of Social Security and Medicare. This calculator prices the full stack into a per-payment percentage, lists the quarterly dates, and explains the safe-harbor rule that makes underpayment penalties structurally impossible.
How to use
- Estimate the year 1099 income from contracts or last year.
- Pick your marginal bracket for the income-tax layer.
- Move the shown slice to a separate account per client payment.
Frequently asked questions
How much should I set aside for self-employment taxes?
Plan on 25-35 percent of net income: the 15.3 percent SE tax plus your income bracket. The calculator prices your exact stack - the separate-account habit is what makes the number stick.
What is the self-employment tax rate?
15.3 percent - both halves of Social Security and Medicare - applied to 92.35 percent of net profit. The discount acknowledges that employees split the bill with an employer, and the self-employed pay both halves.
When are quarterly estimated taxes due?
April 15, June 15, September 15 and January 15 of the following year - the quarters do not match calendar quarters, and June is the one that sneaks up on everyone.
What is the safe harbor rule for estimated taxes?
Pay 100 percent of last year total tax across the quarters - 110 percent for higher incomes - and no underpayment penalty applies no matter what you owe this year. It converts a volatile income into a predictable payment plan.