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As a freelancer you pay both halves of Social Security and Medicare (the 15.3% self-employment tax). The IRS lets you deduct half of that from your income before federal income tax — we apply that automatically.

For 2026 the standard deduction is $16,100 for a single filer. Whatever remains after expenses and the SE-tax deduction is the income the federal brackets actually apply to.

Federal tax is layered: 10% up to $12,400, 12% to $50,400, 22% to $105,700, and so on. Only the income inside each band is taxed at that band’s rate — you never lose the low brackets to a raise.

We estimate state income tax at your state’s top marginal rate, then divide your total annual bill into four equal quarterly payments due Apr 15, Jun 15, Sep 15, and Jan 15.

If you’re a professional freelancer in India, 44ADA lets you treat 50% of gross receipts as taxable income under the presumptive scheme. The new regime slabs (0% up to ₹4L, then 5/10/15/20/25/30%) plus the ₹60,000 Section 87A rebate make up to ₹12L effectively tax-free. Advance tax is due Jun 15, Sep 15, Dec 15, and Mar 15.

Freelancers in the US typically pay 15.3% self-employment tax on net income, plus federal income tax based on their bracket, plus state income tax. Effective total rates usually land between 20% and 35% depending on income level and state. Run your numbers above for a figure specific to you.

Self-employment (SE) tax covers your Social Security and Medicare obligations — the two halves an employer would normally pay. It is 15.3% applied to 92.35% of your net self-employment income (the 92.35% accounts for the fact that your SE tax deduction reduces the base). Half of the SE tax is deductible when computing income tax.

For the 2026 tax year, quarterly estimated tax payments are due April 15, June 15, September 15, 2026, and January 15, 2027. If a due date falls on a weekend or federal holiday, it moves to the next business day.

Estimate your annual net income, subtract deductible business expenses and the standard deduction, apply the marginal brackets, then divide the total tax by four. Our calculator does exactly this in real time — the quarterly number is your total annual bill divided by 4.

Self-employment tax is a flat 15.3% that funds Social Security and Medicare. Income tax is progressive (10% to 37%) and funds general government. You pay both as a freelancer — this calculator shows them separately so you can see exactly where your money goes.

Yes. Legitimate, ordinary and necessary business expenses — home office, equipment, software, professional services, marketing, travel — reduce your taxable income dollar-for-dollar on Schedule C. Track everything, keep receipts, and enter your annual estimate in the calculator to see the impact.

Yes. Freelancers in India pay income tax under either the old or new regime. Under Section 44ADA, eligible professionals can declare 50% of gross receipts as taxable income. In the new regime, income up to ₹12 lakh is effectively tax-free thanks to the Section 87A rebate, and advance tax is due June 15, September 15, December 15, and March 15. GST registration becomes mandatory once services exceed ₹20 lakh in a year.

The IRS charges interest on the unpaid amount plus a failure-to-pay penalty that accrues at roughly 0.5% per month (up to 25% of the balance). If you underpay by more than $1,000 you may also owe an estimated-tax penalty. Missing a payment is fixable — pay as soon as you can and file your return on time.