Estimate your federal income tax, self-employment tax, quarterly payments, and take-home pay as a freelancer, contractor, or sole proprietor.
Enter your gross annual income from freelance, contract, or self-employment work
Enter deductible business expenses to reduce your taxable income
Office, equipment, software, supplies, travel…
$5/sq ft simplified method (max $1,500) or actual
SE health insurance deduction (100% deductible)
SEP-IRA (max 25% of net), Solo 401k, IRA…
Every line of your self-employment tax calculation
How much tax you owe in each bracket on your taxable income
Self-employed individuals must pay quarterly estimated taxes to avoid penalties
Q1 (Jan–Mar): Due April 15 | Q2 (Apr–May): Due June 17
Q3 (Jun–Aug): Due Sept 16 | Q4 (Sep–Dec): Due Jan 15 next year
Total Tax Owed
Take-Home Pay
Effective Tax Rate
SE Tax (15.3%)
Federal Income Tax
Marginal Rate
Income Breakdown
| Gross Income | SE Tax | Fed Income Tax | Total Tax | Eff. Rate | Take-Home |
|---|
Maximize Retirement
A SEP-IRA lets you contribute up to 25% of net SE income (max $69,000 in 2024). A Solo 401k allows up to $23,000 employee + 25% employer contributions — both reduce taxable income dollar-for-dollar.
Track All Deductions
Home office (regular & exclusive use), vehicle (standard mileage 67¢/mi in 2024), equipment (Section 179 expensing), professional development, health insurance, and internet/phone can all offset income.
Pay Quarterly
Missing quarterly estimated tax deadlines triggers IRS underpayment penalties (~8% annualized in 2024). Set aside 25–30% of every payment received. Use IRS Form 1040-ES to calculate and pay.