Freelancer Quarterly Estimated Tax Calculator
Freelancers and independent contractors typically must pay estimated taxes four times a year. Enter your projected annual numbers to estimate your quarterly payment.
About this calculator
Estimate how much you should set aside each quarter for federal estimated taxes based on your projected freelance income, expenses, and self-employment tax obligations.
Frequently Asked Questions
Why do freelancers pay quarterly taxes?
Since freelancers don't have taxes withheld from a paycheck, the IRS requires estimated payments four times a year to cover income and self-employment tax obligations.
What is self-employment tax?
Self-employment tax covers Social Security and Medicare contributions (15.3% combined) that would otherwise be split between an employer and employee.
Can I deduct business expenses before calculating tax?
Yes, ordinary and necessary business expenses reduce your net profit, which lowers both your self-employment tax and income tax liability.