Tax on 1099-NEC freelance and contractor income: SE tax, income tax and what to set aside
Estimates only, not financial advice. What you type stays on your device. Checked against sources on 5 Oct 2026.A 1099 contractor has no employer withholding tax, so the whole bill arrives at once unless you plan for it. On $80,000 of net profit in 2026, a single filer owes $11,303.64 of self-employment tax and $5,343.82 of federal income tax after the QBI deduction: about 20.8% of profit. Enter your own profit to see what to put aside from each payment.
| Net profit | Self-employment tax | Federal income tax | Set aside |
|---|---|---|---|
| $30,000 | $4,239 | $942 | 17.3% |
| $50,000 | $7,065 | $2,667 | 19.5% |
| $75,000 | $10,597 | $4,898 | 20.7% |
| $100,000 | $14,130 | $8,235 | 22.4% |
| $150,000 | $21,194 | $16,413 | 25.1% |
| $200,000 | $28,234 | $25,196 | 26.7% |
$11,303.64
plus $5,343.82 federal income tax: $16,647.46 in allAn estimate from the Form 1040-ES (2026) worksheets, not tax advice. State income tax is extra.
| Payment | Due | Safe-harbour amount | To owe nothing |
|---|---|---|---|
| 1 | April 15, 2026 | $3,745.68 | $4,161.87 |
| 2 | June 15, 2026 | $3,745.68 | $4,161.87 |
| 3 | September 15, 2026 | $3,745.68 | $4,161.87 |
| 4 | January 15, 2027 | $3,745.68 | $4,161.87 |
Form 1040-ES (2026). The January 15, 2027 payment can be skipped by filing the 2026 return by February 1, 2027 and paying the balance with it.
2026 · Rates and rules read from the sources listed on this page (the earliest on 5 Oct 2026); they may have changed since.
Add up your 1099-NEC and other business income, then take off your business expenses.
Enter that net profit and your filing status.
Add W-2 wages and the tax withheld from them, if you also have a job.
Read the self-employment tax, the income tax and the percent of profit to set aside.
Working for yourself means paying both halves of Social Security and Medicare and having no employer to withhold income tax. This calculator works out both taxes for 2026 and turns them into the four estimated payments the IRS expects, following the worksheets in Form 1040-ES (2026).
Self-employment tax. Net profit is multiplied by 92.35%. Social Security takes 12.4% of that, up to the 2026 base of $184,500 less any W-2 wages from a job; Medicare takes 2.9% of all of it. Below $400 of net earnings there is none. Half of the tax is deductible, which lowers your adjusted gross income but not the self-employment tax itself. Above $200,000 ($250,000 joint), the 0.9% Additional Medicare Tax is added.
Income tax and the QBI deduction. Taxable income is AGI less the $16,100 standard deduction (single) and the qualified business income deduction under section 199A: 20% of business profit after the deductible half of SE tax, but no more than 20% of taxable income. Above $201,750 of taxable income ($403,500 joint) the deduction phases out over $75,000 ($150,000 joint) for a business with no employees or property, faster still for a specified service business such as consulting, law or health. From 2026 there is a $400 minimum with at least $1,000 of QBI.
The rest of the article, and all 6 questions about Self-Employment Tax Calculator 2026, are on the Self-Employment Tax Calculator 2026 page.
Multiply net profit by 92.35%, then take 12.4% of that for Social Security, up to $184,500 less any W-2 wages, and 2.9% of all of it for Medicare. On $80,000 of profit the base is $73,880 and the tax is $11,303.64. Half of the tax is deducted from income before income tax is worked out.
Federal tax on 1099 profit for a single filer with no other income runs from about 17% at $30,000 to about 27% at $200,000 in 2026, covering self-employment tax and income tax. On $80,000 the figure is 20.8%. State income tax comes on top, so add your state's rate when you set money aside.
No. The qualified business income deduction lowers only income tax, because it comes off taxable income after AGI. Self-employment tax is charged on 92.35% of net profit whatever the QBI deduction is. On $80,000 of profit the deduction is $11,649.64, saving about $1,398 of income tax and nothing of the $11,303.64 SE tax.
State and local income tax, credits such as the child tax credit, capital gains, rental and other income, itemized deductions, the self-employed health insurance deduction and retirement contributions such as a SEP IRA or solo 401(k) are not included. The QBI part assumes no employees or business property, which only matters above $201,750 of taxable income.
Rates and rules change; check the source before you rely on a figure.
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