Know how much to set aside. This free freelance tax calculator estimates self-employment and income tax on your freelance or side-hustle profit, and shows what you keep — works for any country with your own rates.
Your self-employment
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Estimated tax to set aside
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Enter your income and tax rates
Net profit (taxable)
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Self-employment tax
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Income tax
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After-tax income
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Estimate only. You supply the rates, since self-employment and income tax vary by country, year and income. A common US SE-tax rate is 15.3%.
Use this free freelance tax calculator to estimate how much to set aside for taxes on your self-employed or side-hustle income. Enter your income, expenses and tax rates to see your tax bill and what you keep.
What this freelance tax calculator shows you
A freelance tax calculator estimates the tax on your self-employment income. It subtracts business expenses to find your net profit, then applies your self-employment tax and income tax rates to show the total to set aside and your after-tax income. It works for full-time freelancers and side hustlers alike.
Important: tax rates and brackets vary by country, year and total income, so this tool uses rates you enter. In the US, the self-employment tax rate is commonly 15.3% (covering Social Security and Medicare); income tax is on top of that.
Why freelancers owe more tax than employees
As an employee, your employer pays half of your payroll taxes. When you’re self-employed you pay both halves — that’s the self-employment tax. So on $51,000 of net profit at 15.3% SE tax plus 12% income tax, you’d set aside about $13,900, keeping roughly $37,100.
How to use the freelance tax calculator
Enter your self-employed income. Total revenue before expenses.
Add your business expenses. These reduce your taxable profit.
Enter your self-employment tax rate. ~15.3% is common in the US.
Enter your income tax rate. Your effective rate on the profit.
Read your result. Tax to set aside and take-home update instantly.
Tips for managing freelance taxes
Set aside tax from every payment — a separate savings account makes it painless.
Track deductible expenses all year; they directly lower your taxable profit.
Pay quarterly estimated taxes if your country requires them, to avoid penalties.
Keep clean records of income and receipts for filing season.
Freelance tax terms glossary
Term
What it means
Net profit
Income minus deductible business expenses.
Self-employment tax
Payroll taxes (e.g. Social Security & Medicare) you pay on profit.
Estimated taxes
Quarterly tax payments many self-employed people must make.
Deduction
A business cost that reduces taxable profit.
Freelance Tax FAQ
How much tax should a freelancer set aside?
It varies, but many freelancers reserve 25–30% of net profit. On $51,000 profit at a 15.3% self-employment rate plus 12% income tax, that's about $13,900 — so a separate tax savings account helps.
What is self-employment tax?
It's the payroll tax self-employed people pay to cover Social Security and Medicare (in the US, commonly 15.3%). Employees split this with their employer; freelancers pay both halves themselves.
Does this work for a side hustle?
Yes. Side-hustle income is taxed the same way as freelance income — profit after expenses is subject to self-employment and income tax. Enter just your side-hustle figures to estimate the tax on it.
How do business expenses affect my tax?
Deductible expenses lower your net profit, which is what's taxed. Tracking legitimate costs like software, equipment and fees directly reduces both your self-employment and income tax.
Do I need to pay quarterly taxes?
In many countries, self-employed people must make estimated tax payments during the year rather than once at filing. Check your local rules to avoid underpayment penalties.
Is the freelance tax calculator free to use?
Yes, this freelance tax calculator is completely free, needs no sign-up, and gives instant results directly in your browser.
