Enter your revenue, then click Calculate.
Result
| Item | Amount |
|---|
What it does, and what it leaves to you
- Covers: self-employment tax with the Social Security wage base and Additional Medicare Tax, the deduction for half of it, the standard deduction, 2026 brackets for three filing statuses, the 20% QBI deduction below its threshold, a flat state estimate, the marginal set-aside on your next $1,000, and the 1040-ES schedule with the safe harbor.
- Not decided: state brackets and local tax, credits (child, education, energy), the self-employed health insurance and retirement deductions, capital gains, itemized deductions, QBI limits for high earners, the home-office and vehicle rules, and whether you owe a penalty. The IRS or your tax professional decide these.
Common questions
How much of my 1099 income should I set aside for taxes?
Most freelancers land between 25% and 35% of profit once self-employment tax, federal income tax and state tax are added. Enter your revenue and expenses here for a figure built from the 2026 tables, including what to set aside from your next $1,000 invoice.
How much is self-employment tax?
15.3% of 92.35% of your net profit: 12.4% Social Security up to $184,500 of earnings (less any W-2 wages) plus 2.9% Medicare, with 0.9% more over $200,000 single or $250,000 joint. Half of it is deductible.
What is the QBI deduction?
Most sole proprietors can deduct 20% of qualified business income from taxable income, which lowers federal income tax but not self-employment tax. Above roughly $201,750 single or $403,500 joint of taxable income it is limited by business type and this tool takes none.
When are quarterly estimated taxes due?
April 15, June 15, September 15 and January 15 for the tax year. You generally avoid the underpayment penalty by paying 90% of this year's tax or 100% of last year's (110% if your income was over $150,000).
Is my data uploaded anywhere?
No. Everything is calculated in your browser and nothing is sent.