Quarterly Tax Estimator

Calculate your quarterly estimated tax payments as a freelancer. Includes self-employment tax, federal income tax, and state tax estimates.

Using 15.3% SE tax, 5% state tax, standard deduction

Income

Annual Freelance Income

Total expected freelance/self-employment income

Filing Status

Your tax filing status

Tax Settings

Your Estimated Taxes

Quarterly Payment

$4,185

Pay this each quarter

Total Annual Tax

$16,740

Federal + State + SE

Effective Tax Rate

25.8%

Total tax / Total income

Quarterly Payment Schedule

Tax Breakdown

Gross Freelance Income$75,000

Business Expenses-$10,000

Net Self-Employment Income$65,000

Self-Employment Tax$9,184

Federal Income Tax$5,265

State Tax$2,290

Total Annual Tax$16,740

Quarterly Due Dates

Q1:Apr 15

Q2:Jun 15

Q3:Sep 15

Q4:Jan 15

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Frequently Asked Questions

What are quarterly estimated taxes?

Quarterly estimated taxes are payments freelancers and self-employed individuals make four times a year to cover their income tax and self-employment tax. Unlike W-2 employees who have taxes withheld from each paycheck, freelancers must pay their taxes in quarterly installments.

When are quarterly tax payments due?

Quarterly tax payments are due on April 15 (Q1), June 15 (Q2), September 15 (Q3), and January 15 of the following year (Q4). If a due date falls on a weekend or holiday, the deadline moves to the next business day.

What is self-employment tax?

Self-employment tax is the Social Security and Medicare tax that self-employed individuals pay. The current rate is 15.3% (12.4% for Social Security up to the wage base limit, plus 2.9% for Medicare). This is equivalent to both the employer and employee portions of FICA taxes.

What happens if I don't pay quarterly taxes?

If you don't pay enough tax throughout the year through withholding or estimated payments, you may have to pay an underpayment penalty. The IRS generally expects you to pay at least 90% of your current year tax liability or 100% of your prior year tax (110% if your AGI was over $150,000).

Can I deduct business expenses from my freelance income?

Yes! Legitimate business expenses reduce your taxable income. Common deductions include home office expenses, equipment, software subscriptions, professional development, health insurance premiums, and business travel. Keep detailed records of all expenses.

How to Use the Quarterly Tax Estimator

Freelancers and self-employed workers do not have taxes withheld from their income, so the IRS requires you to make estimated tax payments four times a year. This calculator helps you figure out how much to set aside each quarter so you avoid underpayment penalties at tax time.

Quick Mode

Enter your expected net self-employment income for the year and the calculator will estimate your quarterly payment amount. It factors in federal income tax, self-employment tax (Social Security and Medicare), and a standard deduction. This gives you a fast, conservative number you can use to set up automatic transfers to a tax savings account.

Advanced Mode

Switch to Advanced to fine-tune your estimate. You can itemize business deductions, set your state tax rate, choose your filing status, and enter any additional W-2 withholding that offsets your obligation. This is particularly useful if you have mixed income from both employment and freelancing.

Key Deadlines

Quarterly payments are due on April 15, June 15, September 15, and January 15 of the following year. If a deadline falls on a weekend or holiday, it shifts to the next business day. Missing a deadline can trigger an underpayment penalty even if you pay the full amount later.

The Safe Harbor Rule

You can avoid penalties by paying at least 100 percent of your prior year's total tax liability (110 percent if your adjusted gross income exceeded $150,000) or 90 percent of your current year's liability, whichever is smaller. When in doubt, use last year's return as a baseline and adjust upward if your income is growing.

Consider opening a separate high-yield savings account for tax funds. Each time you receive a payment from a client, transfer 25 to 30 percent into that account so the money is ready when deadlines arrive.

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