Freelance Tax Set-Aside Calculator

About this calculator

Unlike a W-2 employee, a freelancer's taxes aren't withheld automatically, so a common rule of thumb is to set aside a flat percentage — often cited as 25–30% in the U.S. — of net self-employment earnings (income minus deductible business expenses) to cover both income tax and self-employment tax (the 15.3% that replaces the employer/employee split of Social Security and Medicare). The exact figure depends on your tax bracket, state taxes, and deductions, but a consistent set-aside rate keeps you from being caught short at filing time.

This calculator takes your income, expenses, and effective tax rate, and translates the resulting tax liability into concrete yearly and monthly savings targets. Freelancers, gig workers, and independent contractors use it to size a separate savings account they fund with every payment, so quarterly estimated tax payments — and the year-end bill — never come as a surprise.