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Freelance Tax Estimator
Estimate the tax to set aside on your self-employment income, turned into a simple percentage to skim off every invoice so quarterly bills never blindside you.
Frequently asked questions
How accurate is this estimate?
It is a ballpark, not a tax return. It uses the US self-employment tax rate of 15.3% on 92.35% of your net earnings, then applies the effective income-tax rate you enter. Real bills depend on deductions, credits, filing status and where you live — treat the number as "set aside at least this much" and confirm specifics with a tax professional.
What income-tax rate should I enter?
Use your effective rate (total income tax ÷ income), not your top bracket. For many self-employed people that lands somewhere around 10–22% federally once the standard deduction is counted. If you have no idea, 15% is a reasonable starting guess and the tool will tell you the total to save.
Why is self-employment tax so high?
As an employee, your employer quietly pays half of Social Security and Medicare. As a freelancer you pay both halves yourself — that is the 15.3%. The one consolation: half of it is deductible against your income tax, which this estimator already accounts for.
What does "skim off every invoice" mean?
Rather than scrambling at quarter-end, move that percentage of every single payment into a separate tax savings account the moment it arrives. By the time an estimated payment is due, the cash is already set aside and the bill is a non-event.
These calculators give estimates to help you think — not financial, tax or legal advice. Double-check anything that matters with a professional.