Your Business Income
2026: SE tax 15.3% on first $168,600 · 2.9% Medicare on all · ½ SE tax deductible · 20% QBI deduction
⚠️ QBI Simplified: This calculator uses a simplified 20% QBI deduction. Actual QBI may be limited by income thresholds ($182,100 single / $364,200 married) and SSTB (Specified Service Trade or Business) restrictions. Consult a tax professional for precise calculations.
Your Total Tax
Effective rate: 27.1%
Net Profit+$83000
SE tax (15.3%)−$11728
½ SE tax deduction+$5864
QBI deduction (20%)+$12507
Federal income tax−$6059
State tax (NY)−$4685
Total Annual Tax
$22472
Quarterly Payment (Form 1040-ES)
$5618
Due Apr 15, Jun 15, Sep 15, Jan 15
Data Source & Legal Disclaimer
Effective: 2026 tax year (IRS Rev. Proc. 2025-XX)
Last updated: 7 months ago
Update frequency: Annual
Sources: IRS Revenue Procedure (annual inflation adjustments) · IRS.gov — Tax Brackets & Rates · State tax rates: respective state Department of Revenue websites
Self-employment tax (15.3%) = 12.4% SS (up to $168,600 wage base) + 2.9% Medicare. QBI deduction simplified at 20%. State income tax rates are simplified. This is for estimation only — consult a tax professional.