Self-Employed Engine

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.

Expected Annual Gross Income

Total revenue before any expenses

Annual Business Expenses

Software, hardware, internet, travel, etc.

Disclaimer: This calculator provides a simplified estimate assuming a 12% effective income tax bracket. Actual taxes depend on State laws, filing status, and specific deductions. Please consult a CPA.

Estimated Total Tax

$13191.00

Quarterly: $3297.75

Self-Employment Tax (15.3%)$7650.00

Income Tax (Est. 12%)$5541.00

Estimated Take-Home

$36809.00

$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.

Social Security12.4%

Medicare2.9%

Income TaxVariable Bracket

State TaxLocation Dependent