💼
Self-Employment Tax — Side Income + W2 Job
Calculate SE tax when you have both a W-2 job ($60K) and freelance income ($40K).
Self-Employment Tax
$5,651.82
Federal Income Tax
$12,992.30
Total Tax Owed
$18,644.12
Quarterly Estimated Payment
$4,661.03
Effective Total Rate
46.61%
2026 Social Security wage base: $176,100. SE tax = 12.4% SS + 2.9% Medicare. Deduct 50% of SE tax from income.
2026 Social Security wage base: $176,100. SE tax = 12.4% SS + 2.9% Medicare. Deduct 50% of SE tax from income.