Free Agent FinanceCategory · Interactive
Self-employment & quarterly tax calculator
Enter your estimated net freelance income to see your self-employment tax, an estimated federal tax bill, and what that means per quarterly payment. Free, no email required.
This estimate uses simplified 2024 federal brackets and the standard deduction only. It doesn't account for credits, state tax, or itemized deductions. Educational estimate only — not tax advice. See our Disclaimer.
How this calculator works
The tool applies the same logic the IRS uses on Schedule SE: it multiplies your net self-employment income by 92.35%, then applies the 15.3% self-employment tax rate (12.4% Social Security + 2.9% Medicare) to that adjusted figure. Half of that SE tax is then deducted from your income before estimating federal income tax using simplified marginal brackets and the standard deduction for your filing status.
The result is split into four equal quarterly payments — a reasonable starting estimate for Form 1040-ES vouchers, though your actual safe-harbor requirement may differ. Read the full methodology and worked examples in our How Much to Save for Taxes as a 1099 Contractor guide.
