Freelancer Tax Calculator
Find out how much of your 1099 income to set aside — self-employment tax, federal income tax and a clean quarterly number — using the latest IRS tables.
How your freelance tax estimate is built
Self-employed income gets taxed twice over — once for Social Security and Medicare, once for income tax. Here's how the pieces fit together.
1. Self-employment tax
You pay both the employee and employer share of Social Security and Medicare: 15.3% on 92.35% of your net profit. The Social Security portion (12.4%) only applies up to the annual wage base; the Medicare portion (2.9%) has no ceiling. If you also have a W-2 job, those wages use up part of the Social Security cap first.
2. The half-SE-tax deduction
Because employees don't pay income tax on their employer's payroll contribution, the tax code lets you deduct the employer-equivalent half of your self-employment tax before figuring income tax. This calculator subtracts it automatically.
3. Income tax on the freelance portion
We apply the standard deduction and, if enabled, the 20% qualified business income (QBI) deduction, then run your income through the federal brackets. To isolate what you owe as a freelancer, we compare your tax with and without the 1099 income — the difference is what your estimated payments need to cover.
4. Your quarterly number
Add self-employment tax, the income tax on your freelance income and any state estimate, then split it into four equal payments. That's the figure to send the IRS each quarter so you're not surprised in April.
2026 estimated tax due dates
April 15, 2026
First-quarter payment for income earned January–March.
June 15, 2026
Second-quarter payment for April–May.
September 15, 2026
Third-quarter payment for June–August.
January 15, 2027
Fourth-quarter payment for September–December.
Frequently asked questions
How much should a freelancer set aside for taxes?
The old rule of thumb is 25–30% of net income, but your real number depends on total income, filing status, state and any W-2 wages. The set-aside percentage at the top of this tool is calculated for your specific situation, so use that rather than a generic guess.
What is self-employment tax?
It's the Social Security and Medicare tax for people who work for themselves — 15.3% on 92.35% of net earnings. Employees split this with their employer; freelancers pay both halves, which is why a 1099 dollar is taxed more heavily than a W-2 dollar.
When are quarterly estimated taxes due?
Generally April 15, June 15, September 15 and January 15 of the next year. Miss them and the IRS can charge an underpayment penalty even if you pay in full by April, so most freelancers pay as they go.
What is the QBI deduction?
The qualified business income deduction lets many self-employed people deduct up to 20% of their business income before income tax. Above certain income thresholds the rules get complicated, but most freelancers below those limits get the full 20%. Toggle it off if it doesn't apply to you.
Does this include my state taxes?
Only as a flat estimate using the rate you enter. State systems vary widely — some have no income tax, others have brackets or local taxes. For an exact figure, check your state's department of revenue or ask a local preparer.
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