Freelance & Self-Employment Tax Calculator
Estimate quarterly estimated taxes for freelancers. Calculates self-employment tax (15.3%), federal income tax, and quarterly payment amounts to avoid IRS underpayment penalties.
🧾 Self-Employment💰 SE Tax = Net Income × 92.35% × 15.3%
Annual freelance income ($)
Deductible business expenses ($)
Filing status
Please enter valid values.
Formula & Reference
| Variable | Formula | Units |
|---|---|---|
| Freelance & Self-Employment Tax Calculator | SE Tax = Net Income × 92.35% × 15.3% | quarterly estimate |
Step-by-Step Examples
Example 1
Typical Freelancer
$80k gross, $15k expenses, single.
- Net: $65,000 | SE tax: $9,184
- Federal tax: ~$5,500
- Total: ~$14,684 | Quarterly: ~$3,671
✓ ~$14,684/yr, ~$3,671/quarter
Example 2
Consultant
$150k gross, $25k expenses, single.
- Net: $125,000 | SE tax: ~$17,694
- Federal: ~$18,000
- Total: ~$35,700 | Quarterly: ~$8,925
✓ ~$35,700/yr, ~$8,925/quarter
Example 3
Side Hustle
$25k gross, $3k expenses, single.
- Net: $22,000 | SE tax: ~$3,107
- Federal: ~$1,000
- Total: ~$4,107 | Quarterly: ~$1,027
✓ ~$4,107/yr, ~$1,027/quarter
Real-World Applications
Freelancers
Set aside the right percentage to cover quarterly bills without surprises.
Contractors
1099 workers pay all FICA themselves — this makes those obligations transparent.
Small Business
Sole proprietors use this to plan quarterly estimated payments.
Cash Flow
Knowing the quarterly bill prevents cash-flow crises.
Common Mistakes to Avoid
⚠️
Forgetting SE tax entirely
Employees pay 7.65% FICA; freelancers pay 15.3% total. This often shocks new 1099 workers.
⚠️
Missing quarterly payments
Owe $1,000+? IRS requires quarterly payments. Skipping triggers underpayment penalties.
⚠️
Missing the half-SE deduction
You can deduct 50% of SE tax from gross income before calculating federal tax — included here, often missed.
Frequently Asked Questions
What is self-employment tax? ▾
15.3% FICA (Social Security 12.4% + Medicare 2.9%) paid entirely by self-employed on 92.35% of net income.
Quarterly due dates? ▾
Apr 15, Jun 15, Sep 15, Jan 15.
How much to set aside? ▾
25–30% of each payment in most cases. 30–40% in high-tax states (CA, NY) for income above $50k.
Top tax deductions for freelancers? ▾
Home office, equipment, software, health insurance premiums, professional development, retirement (SEP-IRA up to 25% of net).
What is a SEP-IRA? ▾
Contribute up to 25% of net SE income ($69k max 2024) pre-tax. Reduces both federal income tax and SE tax base.