Self-Employment Tax Calculator
Estimate 1099 self-employment tax and your quarterly payments.
Formula
About this calculator
When you work for yourself, no employer withholds taxes for you — so the IRS expects you to pay them yourself, four times a year, through estimated payments. Missing or underpaying these can trigger penalties, which is why every freelancer, contractor and 1099 worker needs to know their number before the money is spent.
Self-employment tax is the self-employed version of FICA. You pay both the employee and employer halves: 12.4% for Social Security (up to the annual wage cap) plus 2.9% for Medicare, for a combined 15.3%. It is calculated on 92.35% of your net earnings, because the IRS lets you exclude the employer-half equivalent first. On top of that you owe regular federal income tax on your profit.
This calculator takes your expected net self-employment income, computes the self-employment tax and an estimate of federal income tax, then divides the total into four quarterly payments. US estimated taxes are generally due around April 15, June 15, September 15, and January 15 of the following year. Setting aside your quarterly amount as income arrives is the simplest way to avoid a painful surprise at tax time.
Frequently asked questions
How much should I set aside for taxes as a freelancer?
A common rule of thumb is 25%–30% of net income, but your real figure depends on your total income and state. This calculator gives you a personalized estimate.
When are quarterly estimated taxes due?
For most years the four deadlines fall around April 15, June 15, September 15 and January 15 of the following year. Dates shift slightly when they land on a weekend or holiday.
Can I deduct half of my self-employment tax?
Yes. The employer-equivalent half of your self-employment tax is deductible against your income tax, which this estimate accounts for in a simplified way.
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⚠️ This is a simplified estimate for planning only and is not tax advice. State taxes and individual deductions are not fully modeled. Confirm with a CPA or the IRS.