Freelancer Tax Estimator
Get a rough estimate of taxes owed on freelance or self-employment income, plus a suggested amount to set aside each quarter.
About this freelancer tax estimator
Unlike salaried employees, freelancers and the self-employed need to proactively set aside money for taxes themselves. This calculator applies your estimated rate to your income and splits it into a quarterly planning number.
How freelancer tax estimator works
The formula is: Estimated Tax = (Annual Income × Tax Rate %) ÷ 100, then divided by 4 for a quarterly set-aside figure. For example, $60,000 in freelance income at a 25% estimated rate means setting aside $15,000 for the year, or $3,750 per quarter.
Common uses
- Estimating how much to set aside from each freelance payment
- Planning quarterly estimated tax payments
- Budgeting take-home freelance income after tax
How to use this tool
- Enter your annual freelance income.
- Enter your estimated tax rate.
- See your estimated annual tax and quarterly set-aside amount.
What to know before using it
This is a rough planning estimate, not tax advice or a substitute for an accountant. Actual tax owed depends on your specific deductions, filing status, local tax laws, and self-employment tax rules, which vary significantly by country and even by state or region.
Privacy and browser-first processing
This tool runs entirely in your browser using JavaScript. Nothing you enter is uploaded or stored.
Frequently asked questions
What tax rate should I use as a freelancer?
This varies by country, income bracket, and local self-employment tax rules, a common rough US starting estimate is 25-30% combining income tax and self-employment tax, but check current rules for your specific situation or ask an accountant.
Why set aside money quarterly instead of once a year?
Many tax authorities, including the IRS in the US, expect estimated tax payments quarterly throughout the year for self-employed income, rather than one lump sum, to avoid underpayment penalties.