The tax bill is the surprise that sinks first-year freelancers. Enter your net income and see what to set aside, split into quarterly payments. No signup, no catch.
Your freelance income for the year after business expenses. This is what gets taxed.
Sets your standard deduction and brackets.
A flat estimate. Use 0 if your state has no income tax or you are unsure.
Set aside for tax
That is about $4,829 per quarter in estimated payments, leaving you $50,683 take-home.
What makes up the tax
A safe habit is to move this percentage of every payment into a separate account the day it lands, so the money for taxes is never money you think you can spend.
Freelancers pay two taxes that catch people out. Self-employment tax is 15.3% on 92.35% of your net income, and it covers Social Security and Medicare. On top of that comes federal income tax, which we work out across the 2025 brackets after your standard deduction and the deductible half of your self-employment tax. If your state charges income tax, we add a flat estimate on top. This is a planning number to help you set money aside, not tax advice: it does not account for credits, dependents, itemized deductions, or the full qualified business income deduction. For anything you file, check with a tax professional.
Estimate for US sole proprietors and single-member LLCs, based on 2025 figures. Not tax advice.
FileCurrent keeps your invoices, payments, and expenses in one place, so when it is time to work out what you owe, the numbers are already there instead of scattered across your inbox.
$15/month or $129/year. No credit card required.
Related reading: freelance business setup: LLC vs sole proprietor, expense tracking for freelancers, and the profit calculator.