Free Tax Calculators for Self-Employed & Freelancers
Calculate your self-employment tax, quarterly estimates, capital gains, and business structure savings. Multi-step tools with all 50 state rates. No signup required.
Self-employment tax is 15.3% of your net profit — 12.4% for Social Security (on the first $184,500 of earnings) and 2.9% for Medicare. An additional 0.9% Medicare surtax applies on income above $200,000 (single filers). Use our free self-employment tax calculator for your exact amount including deductions and credits.
When are quarterly estimated taxes due?
Quarterly estimated taxes are due April 15, June 16, September 15, 2026, and January 15, 2027. If you expect to owe $1,000 or more in taxes, the IRS requires quarterly payments. Our quarterly tax calculator generates your personalized payment schedule with safe harbor calculations.
Should I form an LLC or S-Corp for my business?
An LLC provides liability protection but doesn't change your tax rate by default — you still pay self-employment tax on all profit. Electing S-Corp status can save thousands if your profit exceeds $60,000-80,000 because you only pay SE tax on your reasonable salary, not distributions. Use our LLC vs S-Corp optimizer to see your exact savings.
What tax deductions can freelancers and self-employed claim?
Key deductions include: home office ($5/sq ft up to $1,500), health insurance premiums (100% deductible), retirement contributions (SEP IRA up to $69,000 or Solo 401k up to $69,500), business equipment (Section 179 up to $1,250,000), vehicle expenses ($0.70/mile), internet and phone (business-use percentage), continuing education, business insurance, and professional services. See our complete freelancer tax deductions guide.
How do 1099 taxes work compared to W-2?
As a 1099 independent contractor, no taxes are withheld from your pay — you're responsible for paying both the employee AND employer portions of Social Security and Medicare (15.3% total self-employment tax). You must make quarterly estimated payments. As a W-2 employee, your employer withholds taxes and pays half of your FICA taxes. A 1099 worker typically needs to earn 30-50% more than a W-2 employee to have equivalent take-home pay.
Which state has the lowest taxes for self-employed workers?
Nine states have no state income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming. However, some no-tax states have higher sales tax or property tax. Compare your total tax burden across all 50 states using our state tax comparison tool.