Colorado self-employment tax 2026
With $68,000 of self-employment profit in Colorado, a single filer owes about $9,608 in self-employment tax for 2026 and should set aside about $3,885 each quarter.
Self-employment tax · 2026
Quarterly payments $9,608for the year
15.3% on 92.35% of your profit
Where your $68,000 of profit goes
You keep$52,46177.1%
Social Security$7,78711.5%
Medicare$1,8212.7%
Federal income tax$4,2736.3%
Colorado income tax$1,6582.4%
Income tax
$5,931
Total tax
$15,539
Each quarter
$3,885
Quarterly estimated payments for 2026
Apr 15, 2026Covers Jan 1 to Mar 31
$3,885Jun 15, 2026Covers Apr 1 to May 31
$3,885Sep 15, 2026Covers Jun 1 to Aug 31
$3,885Jan 15, 2027Covers Sep 1 to Dec 31
$3,885Equal amounts to set aside, not a bill.
Self-employment tax in Colorado
- Self-employment tax
- 15.3%
- Wage base
- $184,500
- Extra Medicare
- 0.9%
- Owed from
- $400
- Business income deduction
- 20%
- Colorado income tax
- 4.4% flat
How we work it out
- 1Net earningsYour profit times 92.35%.
- 2Social Security12.4% on net earnings up to $184,500, less W-2 wages.
- 3Medicare2.9% on all net earnings, plus 0.9% over $200,000.
- 4Income taxAfter half your self-employment tax and the 20% business income deduction.
- 5Quarterly estimateSelf-employment tax plus income tax on the profit, split in four.
Self-employment tax questions
How much self-employment tax do I owe on $68,000 of profit?
About $9,608 for 2026, made of $7,787 for Social Security and $1,821 for Medicare. Half of it, $4,804, comes off your income before income tax.
What is the self-employment tax rate for 2026?
15.3% on 92.35% of your net profit: 12.4% for Social Security on up to $184,500 and 2.9% for Medicare on all of it. Above $200,000 for single filers, another 0.9% Medicare applies.
When are 2026 estimated tax payments due?
Apr 15, 2026, Jun 15, 2026, Sep 15, 2026, and Jan 15, 2027. Each payment covers the months before it.
I also have a W-2 job. Does that change my self-employment tax?
Yes. Social Security stops at $184,500 of combined earnings, and your job's wages count first. Add your W-2 wages in the calculator to see the difference.
Does Colorado tax self-employment income?
Yes. Colorado taxes your profit as income at 4.4% flat.
Sources
- IRS Revenue Procedure 2025-32: 2026 brackets and standard deduction
- Social Security Administration: 2026 contribution and benefit base
- IRS Notice 2025-67: 2026 retirement plan limits
- Colorado Department of Revenue, Taxation Division
- Colorado Legislative Council Staff, September 2026 Economic and Revenue Forecast (no TABOR surplus in FY 2025-26; rate stays 4.40%, temporary cut not expected until 2029)
- Colorado FAMLI Premium and Benefits Calculator (2026 premium 0.88%, 0.44% employee, $184,500 cap)
- Legislative Council fiscal note, HB 25B-1020 (describes the overtime add-back enacted by HB 25-1296 from tax year 2026)
- Colorado DOR, Individual Income Tax Guide: deduction add-back over $300,000 AGI ($12,000 / $16,000 for 2023-2025; $1,000 / $2,000 from 2026) and overtime add-back from 2026
- Denver Tax Guide Topic 61, Occupational Privilege Tax
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