Free tool
Self-Employment Tax Calculator
Freelancers get hit with taxes an employer used to split with them — and the bill blindsides people every April. This calculator estimates your 2026 self-employment tax, federal income tax, and what to set aside each quarter, straight from your income and expenses. It's a planning estimate, not tax advice.
Frequently asked
- How much is self-employment tax?
- Self-employment tax is 15.3% of your net earnings — 12.4% for Social Security (up to the annual wage base) plus 2.9% for Medicare. You pay it on 92.35% of your net profit, and you can deduct half of it when figuring your income tax. High earners also pay an extra 0.9% Medicare surtax above a threshold.
- How much should I set aside for taxes as a freelancer?
- A common rule of thumb is 25–30% of your net profit, but your real number depends on your income, filing status, and deductions. This calculator gives you a per-quarter figure so you can set aside the right amount instead of guessing.
- When are quarterly estimated taxes due?
- Federal estimated taxes are generally due four times a year — mid-April, mid-June, mid-September, and mid-January of the following year. Paying roughly a quarter of your estimated annual tax on each date helps you avoid underpayment penalties.
- Do freelancers get the QBI deduction?
- Most do. The Qualified Business Income deduction lets many self-employed people deduct up to 20% of their business income before figuring income tax, subject to income thresholds. This calculator includes a simplified 20% QBI deduction, which is why your estimated income tax may be lower than you'd expect.
Never get surprised by a tax bill again.
Frelo tracks your income and deductible expenses as they happen, so your tax estimate — and the amount you set aside — stays right all year.