Freelancer Tax Estimator
Estimate your self-employment tax, federal and state income tax, and what to set aside for quarterly IRS payments — built for 1099 contractors and freelancers.
Fill in your income and hit Estimate to see your tax breakdown here.
Estimates only — not tax advice. Consult a licensed tax professional for your specific situation, especially for QBI eligibility and high-income phase-outs.
How this calculator works
Freelancers and 1099 contractors pay two separate things: self-employment tax (15.3% — covering both the employee and employer share of Social Security and Medicare, since you don't have an employer splitting it with you) and regular federal and state income tax on your profit.
- Self-employment tax: calculated on 92.35% of your net income (gross minus business expenses), at 12.4% Social Security (up to the annual wage base) + 2.9% Medicare (no cap, plus an extra 0.9% above $200,000 single / $250,000 married).
- Half of that SE tax is deductible from your income before federal and state tax are calculated — this calculator applies that automatically.
- The 20% QBI deduction further reduces your federal taxable income for qualifying business income. High earners in certain service professions (law, consulting, healthcare, etc.) may face limits we don't model here — talk to a tax pro if your income is high or your work falls in those categories.
Quarterly estimated payments are typically due on these dates (for income earned in that quarter):
Want to know your regular take-home pay too? Try our Take-Home Pay Calculator.