Freelancer Tax Estimator
Estimate your self-employment taxes including federal income tax, Social Security, and Medicare.
Your total gross income before taxes and deductions
Your tax filing category — affects brackets and deductions
Business expenses, home office, etc.
Total Annual Tax
Combined income tax and self-employment tax for the year
$27,458.00
Effective rate: 27.46%
Quarterly Estimated Payment
Amount to set aside each period to cover your tax bill
$6,864.50
Due: Apr 15, Jun 15, Sep 15, Jan 15
Income Tax
Tax on your earnings after deductions
$12,158.00
Self-Employment Tax (SS + Medicare)
Additional tax for self-employed individuals
$15,300.00
Take-Home Pay
What you keep after all taxes are paid
$72,542.00
⚠️ Important Notes
- This is an estimate — consult a tax professional for your specific situation
- Self-employment tax is 15.3% (12.4% Social Security + 2.9% Medicare)
- You can deduct 50% of SE tax from your income tax
- State/regional taxes are not included
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FreshBooks
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QuickBooks Self-Employed
Track income, expenses, and mileage. Maximize tax deductions automatically.
Xero
Beautiful accounting software for small businesses and freelancers.
Wave
100% free invoicing and accounting. Perfect for solo freelancers.
Bonsai
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Gusto
Payroll and benefits for freelancers who hire contractors or employees.
We may earn a commission if you sign up through these links, at no extra cost to you.
Understanding Freelance Taxes
As a freelancer, you're responsible for both the employee and employer portions of Social Security and Medicare taxes (15.3% combined). This is on top of your regular income tax. Our estimator breaks down each component so you know exactly what to set aside.
How to Reduce Your Freelance Tax Bill
Maximize deductions by tracking every business expense: home office, internet, phone, software, equipment, mileage, and professional development. Consider contributing to a SEP-IRA or Solo 401(k) to shelter income from taxes. Many freelancers save 20-30% on taxes through proper deduction tracking alone.
Frequently Asked Questions
How much tax do freelancers pay?
Do I need to pay quarterly estimated taxes?
What is self-employment tax?
Recommended Tools
FreshBooks
Invoicing and accounting software built for freelancers. #1 rated for ease of use.
QuickBooks Self-Employed
Track income, expenses, and mileage. Maximize tax deductions automatically.
Xero
Beautiful accounting software for small businesses and freelancers.
Wave
100% free invoicing and accounting. Perfect for solo freelancers.
Bonsai
Contracts, proposals, invoices, and accounting — all-in-one freelance suite.
Gusto
Payroll and benefits for freelancers who hire contractors or employees.
We may earn a commission if you sign up through these links, at no extra cost to you.
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