Freelance Tax Estimator

Self-employment tax (15.3%) covers Social Security and Medicare. Employees split this with their employer. As a freelancer, you pay both halves.

You can deduct half of your regular self-employment tax (Social Security + Medicare portions) from your adjusted gross income. The 0.9% Additional Medicare Tax is not deductible. This calculator accounts for that distinction.

Quarterly estimated payments are due four times per year. Underpaying may result in IRS penalties. Use Form 1040-ES for official calculations.

This does not include: QBI deduction (Section 199A), itemized deductions, tax credits, AMT, SALT deduction, senior deduction, or local taxes. Your actual liability may be higher or lower.