--- title: "Self-Employed Tax Calculator: How Much to Set Aside | MCC" description: "Estimate how much of your self-employment income to set aside for federal, self-employment and New Jersey tax, and what to pay each quarter." url: "https://mcc-solutionsnj.com/bookkeeping/self-employed-tax-calculator" --- Free tool # How much should I set aside for taxes? Enter what your business expects to earn after expenses. We estimate federal income tax, self-employment tax and New Jersey tax, and what that means per month and per quarter. [![Intuit ProAdvisor Gold tier badge](/img/credentials/intuit-proadvisor-gold.png)](https://proadvisor.intuit.com/app/accountant/search?searchId=matthew-coleman77)Gold tier in Intuit's ProAdvisor program. [See my Intuit listing](https://proadvisor.intuit.com/app/accountant/search?searchId=matthew-coleman77) Keeping your own books? Tallyfinch does invoices, bank import and reports on your computer. [See Tallyfinch](/bookkeeping/mcc-books-downloadable-bookkeeping-software) Expected profit for the year, after business expenses Filing status Other household income (spouse wages, a job) State income tax Prefer to talk it through? [Take the free books check](/bookkeeping/health-check) or [contact us](/contact). How it works ## What the estimate includes It adds three things: **self-employment tax** (Social Security and Medicare, about 15.3% on the first part of your profit), **federal income tax** using the 2026 brackets and the standard deduction, and **New Jersey income tax** using New Jersey's most recent published rates. It leaves out things that would usually lower your bill: the 20% qualified business income deduction, retirement contributions, health insurance deductions, credits and itemized deductions. So treat the result as a cautious figure to plan with, not a prediction. It also leaves out the extra Medicare tax at higher incomes and taxes in other states. Nothing you enter is sent or saved. The math runs in your browser. This is general information, not tax advice, so talk to a tax professional about your own situation. FAQ ## About this calculator **Is this my exact tax bill?** No. It is a planning estimate. It does not include credits, retirement contributions, the self-employed health insurance deduction, the qualified business income deduction or itemized deductions, and it does not cover other states. Your actual bill can be higher or lower. **Where do the rates come from?** The federal brackets, the standard deduction and the Social Security wage base are the published 2026 figures. New Jersey rates are from the most recent table we could confirm, tax year 2025, and we assume the amounts did not change. **Why is self-employment tax so high?** When you work for yourself you pay both the employee and employer halves of Social Security and Medicare, about 15.3% on most of your profit, up to the Social Security wage base. **How often should I pay?** Most self-employed people pay estimated tax four times a year. See the dates in our tax deadline calendar. Many people move the set-aside amount to a separate savings account each time they get paid. **Is this tax advice?** No. It is a general estimate, not tax advice. A tax professional can tell you what applies to you. See when estimated payments are due in the [tax deadline calendar](/bookkeeping/tax-deadlines), or [talk to us about your books](/bookkeeping/). More free tools: [ROE and ROA calculator](/bookkeeping/return-on-equity-and-assets-calculator), [CAGR calculator](/bookkeeping/cagr-calculator), [Simple interest calculator](/bookkeeping/simple-interest-calculator), or [see all free tools](/free-tools). Free ### Month-End Close Checklist (PDF) The five-day close, one page to print. Enter your email and we send a link to confirm it is yours, then the download. We may email you about new toolkits, and every email has an unsubscribe link. General information, not tax or legal advice. [How we write and check our tools](/editorial-standards). Do it yourself ### 2026 Form 1040 & Schedule C Estimator (Python) Type in revenue and expenses and see profit, self-employment tax, taxable income, federal tax and what to pay each quarter, from a script you run locally with no subscription. [See what's inside ($39)](/toolkits/schedule-c-tax-estimator)14-day full refund Keep this calculator on your phone: [Add MCC Money to your phone](/tools/mcc-money-app). It's free, works offline and holds 62 calculators. ## Related - [Gig driver money and mileage: a free 5-part email course](/bookkeeping/gig-driver-money-email-course) - [Free reminders for estimated tax dates](/bookkeeping/estimated-tax-date-reminders) - [2027 tax brackets and standard deduction](/bookkeeping/2027-tax-brackets-and-standard-deduction) Tallyfinch ### Books you keep on your own computer Tallyfinch does invoices, bills, bank import, reconciliation and the main reports, in a file you own. $99 once, then $5 a month for updates; the app keeps working if you stop the plan. It does not do payroll or sales tax filing. The free download records up to 60 entries. [See Tallyfinch](/bookkeeping/mcc-books-downloadable-bookkeeping-software) [Download it free](/tools/pro/trial/mccBooks) [Compare the three apps](/software) ## Want your numbers kept current all year? [See bookkeeping](/bookkeeping/)[Call (908) 444-6373](tel:+19084446373)