Freelancer Tax Estimator
Estimate US self-employment tax, federal income tax and the Qualified Business Income (QBI) deduction for a freelancer or solo business owner. Enter your gross income, business expenses and filing status — the estimator breaks down each component, shows the effective tax rate and divides the total into four equal quarterly estimated payments.
How to use
- 1
Enter your gross income
Total 1099 / self-employment income before expenses. Include all client work, side gigs and freelance revenue.
- 2
Enter your business expenses
Legitimate deductible expenses: software, home office, equipment, professional services, mileage. Do NOT include personal expenses.
- 3
Choose your filing status
Single or Married Filing Jointly — this drives the brackets and standard deduction. Head of Household is not modelled.
- 4
Read the estimate and pay quarterly
The total tax is divided by four. Pay each quarter by the IRS estimated-tax deadlines to avoid underpayment penalties.
Common use cases
- Estimate your tax burden before going full-time freelance.
- Plan quarterly estimated payments to avoid IRS underpayment penalties.
- See how QBI deduction (20%) and half-SE deduction reduce your taxable income.
- Stress-test the impact of taking on an extra client or raising rates.
Limitations
- This calculator produces an estimate only and is not professional financial, tax or investment advice. Always confirm the underlying formulae with your accountant, bank or financial advisor before making decisions.
- Only US federal tax for tax year 2024 is modelled. State and local income taxes (which can add 0–13%) are NOT included.
- The QBI deduction uses the simple 20%-of-net formula. For taxable income above $191,950 (single) or $383,900 (MFJ) in 2024, the actual QBI deduction is limited by a W-2 wages / property factor and may be phased out entirely for SSTB businesses (doctors, lawyers, consultants).
- Additional Medicare Tax (0.9% on earned income above $200k single / $250k MFJ) and Net Investment Income Tax are not included.
- Self-employed health insurance deduction, SEP-IRA / Solo 401(k) contributions and HSA contributions (all of which reduce AGI and SE tax base) are not modelled — enter them as additional expenses to approximate.
- Assumes you take the standard deduction. If you itemise, replace the standard deduction with your Schedule A total.
Frequently asked questions
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