Freelance Tax Estimator
Estimate quarterly and annual self-employment taxes including federal income tax and SE tax.
Deductible expenses: software, equipment, office, travel, etc.
HSA contributions, retirement, etc. (above the standard deduction)
This estimates federal taxes only using 2026 single-filer brackets. State and local taxes are not included. Consult a CPA for precise tax planning.
Enter income details and click Estimate Taxes
What This Calculator Does
This calculator estimates quarterly and annual tax obligations for self-employed individuals in the United States. It accounts for self-employment tax (Social Security + Medicare), the SE tax deduction, standard deduction, and progressive federal income tax brackets.
The Formula
Self-employed workers pay both the employer and employee portions of Social Security and Medicare taxes. The 92.35% factor and the ability to deduct half of SE tax are built into the calculation. Federal income tax is then calculated on the remaining taxable income.
Step-by-Step Example
Enter gross income
Total freelance revenue before expenses. Example: $100,000.
Subtract expenses
Deductible business expenses reduce your net profit. Example: $15,000 in expenses = $85,000 net profit.
Calculate SE tax
$85,000 x 92.35% x 15.3% = $12,003 in self-employment tax.
Calculate income tax
After SE deduction ($6,001) and standard deduction ($16,100), taxable income = $62,899. Federal tax is approximately $9,100.
Real-World Use Cases
Quarterly Payments
Determine how much to send to the IRS each quarter to avoid underpayment penalties.
Income Planning
Understand the tax impact before accepting new clients or raising rates.
Expense Optimization
See how increasing deductible expenses (equipment, education) reduces your tax bill.
Common Mistakes to Avoid
Forgetting that freelancers pay BOTH sides of payroll taxes (employer + employee), totaling 15.3%.
Not making quarterly estimated payments and facing underpayment penalties at tax time.
Missing legitimate business deductions like home office, internet, phone, professional development, and health insurance.
Not setting aside 25-35% of income for taxes throughout the year.
Frequently Asked Questions
Accuracy and Disclaimer
This calculator provides rough federal tax estimates using 2026 brackets and rates. It does not account for all tax situations including state taxes, AMT, tax credits, retirement contributions, or other deductions. Always consult a licensed CPA or tax professional for accurate tax planning.
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