Freelance Tax Calculator
Calculate your self-employment tax, federal and state income tax, and quarterly estimated payments. Built for freelancers, contractors, and gig workers.
All inputs adjust the result in real time. No data leaves your browser.
As a freelancer or independent contractor, you pay both the employer and employee portions of Social Security and Medicare taxes — known as self-employment (SE) tax. The SE tax rate is 15.3% on 92.35% of your net self-employment income.
You can deduct half of your SE tax from your gross income when calculating federal income tax. This is the "SE deduction" and it reduces your adjusted gross income before applying tax brackets.
Freelancers are required to make quarterly estimated tax payments to the IRS (and often to their state). Missing these payments can result in underpayment penalties. The quarterly amount shown here divides your total annual tax liability by four.
Business expenses reduce your net self-employment income, which lowers both your SE tax and your income tax. Common deductible expenses include home office costs, equipment, software, health insurance premiums, and professional development.