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Self-Employment Tax Estimator

The 15.3% SE tax catches most freelancers off guard. Enter your numbers and see exactly what you'll owe — Social Security, Medicare, and the federal/state taxes that come on top.

Total 1099 / freelance income before expenses

$

Deductible expenses (software, home office, mileage…)

$

⚠️ Estimates only. Tax rates updated for 2026. Consult a CPA for advice specific to your situation.

Self-employment tax
$21,194
28.3% of net profit · on $75,000

SE tax breakdown

Social Security (12.4% up to $176,100)$17,177
Medicare (2.9%, no cap)$4,017
Half deductible from federal income tax$10,597

Total tax picture

SE tax$21,194
Federal income tax$5,783
State income tax (MA)$6,750
Total tax owed$33,727
Effective rate (on gross)42.2%
Take-home$46,273

Why SE tax exists. W-2 employees split FICA with their employer (7.65% each). As a freelancer you pay both halves — 15.3% on 92.35% of your net profit. The good news: you deduct half of it against your federal income tax, which the breakdown above already factors in.

Massachusetts Tax Resources for Freelancers

Tax Authority

Massachusetts Department of Revenue

Estimated tax form: Form 1-ES

Estimated Tax Schedule

  • Q1Jan 1 – Mar 31April 15, 2026
  • Q2Apr 1 – May 31June 16, 2026
  • Q3Jun 1 – Aug 31Sept 15, 2026
  • Q4Sep 1 – Dec 31Jan 15, 2027

Additional State Taxes

Millionaires Surtax4.0%

Additional 4% on income over $1,000,000 (effective 2023). Standard rate is 5%.

What Freelancers Should Know

  • Standard rate is 5%; the 4% Millionaires Surtax only applies to income above $1,000,000.