Self-employed income comes with no tax withheld — it's on you to set it aside. Enter your income and rate to see how much to save and the quarterly amounts, then track it all year.
Set aside the right amount and stay ready for every quarter.
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A common rule of thumb is to set aside somewhere around 25% to 35% of your net self-employed income, but the right figure depends on your income level, location, and whether you owe self-employment or payroll taxes on top of income tax. Because no tax is withheld from freelance pay, saving a fixed percentage of every payment into a separate account is the safest habit. This calculator uses whatever combined rate you enter; confirm your actual rate with a tax professional.
In many places, the self-employed must pay estimated taxes throughout the year (often quarterly) rather than in one lump sum, to cover income and self-employment taxes as they earn. Underpaying can trigger penalties. Dividing your annual set-aside into quarterly payments, as this tool does, keeps you current and avoids a painful year-end bill. Check the specific due dates and rules where you file.
A ready-to-use spreadsheet (Excel & Google Sheets): your annual and quarterly tax set-aside from your income and rate, plus month-by-month income and set-aside tracking — delivered instantly after checkout. AI-assisted, human-built; not tax advice.
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