Freelance Tax Estimator
Freelance Quarterly Tax Estimator
A rough estimate of what a US freelancer or 1099 contractor should set aside and pay each quarter.
Uses official federal figures (IRS Rev. Proc. 2025-32 for 2026, and Rev. Proc. 2024-40 for 2025; Social Security wage base from the SSA). This is an estimate for planning, not tax advice. Talk to a tax professional or use IRS Form 1040-ES for your actual payments.
| Net profit (income minus expenses) | |
| Self-employment tax | |
| Social Security portion | |
| Medicare portion | |
| Deduction: half of self-employment tax | |
| Standard deduction | |
| Qualified business income deduction | |
| Federal taxable income | |
| Federal income tax | |
| State tax (your rate applied to income after the standard deduction) |
Avoiding an underpayment penalty
Estimated payment due dates
Due dates move to the next business day when they fall on a weekend or holiday. Some states have their own dates.
How this estimate works
Freelancers pay two kinds of federal tax on their profit. Self-employment tax is Social Security (12.4% up to a yearly wage limit) plus Medicare (2.9%), calculated on 92.35% of your net profit. Half of it is deductible. Income tax is then charged on your taxable income using the tax brackets, after the standard deduction.
No employer withholds tax from your payments, so you send estimates to the IRS four times a year. Dividing the yearly total by four gives a simple quarterly amount. If your income is uneven, pay closer to what you actually earned in each period.
What is not included: the additional 0.9% Medicare tax for high earners, itemised deductions, credits, retirement contributions, health insurance deductions, the alternative minimum tax, phase-outs of the qualified business income deduction, and other Social Security wages you may have earned as an employee. Your real bill can be higher or lower.
Common deductible expenses for freelancers
- Software, subscriptions and tools used for work
- Equipment, and supplies (some larger items may need to be depreciated)
- Home office costs, if a space is used regularly and only for business
- Business use of a phone, internet, or vehicle, based on records of the business share
- Professional fees, such as accounting, legal and licences
- Advertising and website costs
- Retirement plan contributions and self-employed health insurance may reduce taxable income separately
Keep receipts and records. Rules have conditions, so check them with a tax professional or the IRS publications.
Frequently asked questions
Who has to pay estimated taxes?
Generally people who expect to owe at least $1,000 in federal tax after withholding and credits for the year. Freelancers and 1099 contractors usually fall into this group.
What is the safe harbor?
You generally avoid an underpayment penalty if you pay at least 90% of this year's tax, or 100% of last year's tax (110% if last year's adjusted gross income was over $150,000). The calculator applies this when you enter last year's numbers.
Can I enter a different state rate?
Yes. Type your state's rate into the state box. Many states have progressive brackets, so use an approximate average rate for your income, or 0 if your state has no income tax.
Is my data stored?
No. Everything is calculated in your browser and nothing is sent anywhere.
Related: the loan calculator and the FIRE calculator.