Self-employment tax
$8,477.73
15.3% of $55,410 in net earnings (92.35% of your $60,000 profit)
Total tax on this income
$12,037
Set aside
20.1% of profit
Quarterly federal payment
$3,009
You keep
$47,963
- Self-employment tax
- $8,478
- Federal income tax
- $3,559
- You keep
- $47,963
Self-employment tax (Schedule SE)
- Net profit (income − expenses)
- $60,000
- Net earnings (× 92.35%)
- $55,410.00
- Social Security (12.4%)
- $6,870.84
- Medicare (2.9%)
- $1,606.89
- Self-employment tax
- $8,477.73
- Deductible half (lowers income tax)
- $4,238.87
Income tax on this income
- Qualified business income (QBI)
- $55,761
- QBI deduction
- $7,932
- Federal income tax added (top bracket 12%)
- $3,559
- Total tax on your self-employment income
- $12,037
2026 quarterly estimated payments
| Due date | Federal payment |
|---|---|
| April 15, 2026 | $3,009 |
| June 15, 2026 | $3,009 |
| September 15, 2026 | $3,009 |
| January 15, 2027 | $3,009 |
Four equal payments of $3,009 cover the federal tax on this income. You generally avoid the underpayment penalty if you owe less than $1,000 after withholding, or if you pay at least 90% of this year’s tax or 100% of last year’s (110% if last year’s AGI was over $150,000).
No state selected, so state income tax is not included. Choose your state to add an estimate.
Not included: credits such as the EITC or child tax credit, the self-employed health insurance and retirement plan deductions (they lower income tax but not self-employment tax), and local taxes.
How this was figured
- Taxable income before the QBI deduction
- $39,661
- Taxable income after the QBI deduction
- $31,729
- Standard deduction (single)
- $16,100
- Social Security wage base left after W-2 wages
- $184,500