Freelance Tax Estimator
Stop guessing your tax bill. Calculate exactly how much to set aside from every paycheck to cover Federal, State, and Self-Employment taxes.
Total revenue before any expenses
Software, hardware, internet, travel, etc.
Estimated Total Tax
Estimated Take-Home
$3067.42 / month
Safe Harbor
As a freelancer, you are both the employer and the employee. This means you pay the full 15.3% FICA tax (Social Security + Medicare) yourself. Failing to save this money is the #1 cause of tax debt for independent contractors.
The 30% Rule
We recommend setting aside 25-30% of your *net* income (profit) into a separate high-yield savings account designated for taxes.
Quarterly Payments
The US has a "pay as you go" tax system. If you owe more than $1,000, you must pay estimated taxes quarterly to avoid underpayment penalties.
Tax Breakdown
Where does that 15.3% go? It funds your future social security benefits and Medicare coverage.
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