Freelancers and self-employed workers have no employer withholding taxes for them, so the bill arrives all at once. Enter your expected net profit to estimate how much to set aside for self-employment tax, federal income tax and state income tax, and what each quarterly payment might be.
Freelancer Tax Set-Aside Calculator (2026, single filer)
Uses 2026 single-filer federal brackets and the $16,100 standard deduction, the 15.3% self-employment tax on 92.35% of net profit with the $184,500 Social Security wage base, and the deduction for half of self-employment tax. It ignores the QBI deduction, credits, the additional Medicare tax and other situations, so it can overstate your bill. It is an estimate, not tax advice; see IRS estimated taxes.
How to use this freelance tax calculator
- Enter your expected net profit for the year (income minus business expenses).
- Add your state income tax rate, and any other taxable income such as a W-2 job.
- Click the button to see the percentage of profit to set aside, plus the quarterly and monthly amounts.
How the estimate works
Self-employment tax is 15.3% (12.4% Social Security plus 2.9% Medicare) applied to 92.35% of your net profit, with the Social Security part capped at the annual wage base ($184,500 for 2026). Half of that tax is deductible when working out income tax. Federal income tax uses the 2026 single-filer brackets after the $16,100 standard deduction. For a typical range by income level, see How Much Should Freelancers Save for Taxes?
Example with the default numbers
With $80,000 of net profit and a 4% state rate, the calculator estimates about $11,300 of self-employment tax, $7,500 of federal income tax and $3,000 of state tax: roughly $21,800 in total, or about 27% of profit and around $5,450 per quarter.
Frequently asked questions
Do I pay self-employment tax on all my profit? You pay it on 92.35% of net profit, and the Social Security portion stops at the wage base. The 2.9% Medicare portion continues above it.
What are quarterly estimated payments? Because no tax is withheld from self-employed income, the IRS expects payments during the year. See the IRS guide to estimated taxes for due dates and rules.
Can an S-corp lower this? Sometimes, at higher profits and with added costs. We explain it in S-Corp Election: How Much You Can Actually Save on Taxes.
Sources: IRS: Estimated taxes • SSA: 2026 fact sheet
This calculator is for education and gives estimates only. It is not financial, tax or legal advice.