Freelance & 1099 Tax Estimator

What should you
set aside for taxes?

Estimate self-employment tax plus federal income tax on your 1099/freelance income, and your quarterly payment.

Set Aside for Taxes
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Self-Employ. Tax
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Federal Income Tax
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Effective Rate
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Per Quarter
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💼 Your Numbers
📊 Breakdown
How this works
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Self-employment tax is 15.3% of 92.35% of your net profit (Social Security + Medicare) — this is on top of regular income tax, and it's the part W-2 employees don't see because employers split it with them.
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Quarterly estimated payments are due mid-April, June, September, and January. Missing them can trigger IRS underpayment penalties even if you pay in full by April.
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This is an estimate, not tax advice. It uses simplified 2024 federal brackets and the standard deduction. A CPA can find deductions this tool can't account for.