Your business income
Where do you file?
Income minus business expenses, for the whole year.
Wages that already had Social Security taken off use up part of the $184,500 limit.
Self-employment tax for 2026
Net earnings from self-employment
92.35% of net profit
$55,410.00
Social Security (12.4%)
On $55,410.00 (2026 limit $184,500, less W-2 wages)
$6,870.84
Medicare (2.9%)
On all net earnings
$1,606.89
Self-employment tax (Schedule SE)
$8,477.73
Deduction for half of SE tax
Schedule 1, line 15: lowers your income tax, not the SE tax
$4,238.87
A quarter of it, per estimated payment
Add your income tax to get the full payment
$2,119.43
2026 rates: Social Security wage base $184,500; the 0.9% thresholds are not indexed. Church employee income, farm optional methods and the Social Security limit shared with railroad pay are not covered. An estimate, not tax advice.