Self-Employed Quarterly Tax Estimate Calculator
Estimate your quarterly estimated tax payments as a freelancer or self-employed worker, including the 15.3% self-employment tax.
How it works
SE tax = net × 92.35% × 15.3% · Income tax = (net − ½ SE tax + other) × rate · Quarterly = (SE tax + income tax) ÷ 4
The self-employed pay both halves of Social Security and Medicare — 15.3% on 92.35% of net earnings — on top of ordinary income tax, and the IRS wants it in four estimated installments rather than a lump sum at filing. Half of the self-employment tax is deductible when figuring income tax, which this estimate accounts for. Underpaying the quarterly amounts can trigger a penalty, so many freelancers set aside 25–30% of each payment they receive.
Worked example
On $60,000 net, the SE base is $55,410 and SE tax is $8,478. Half of that ($4,239) is deducted, so income tax applies to $55,761; at 12% that is $6,691. Total tax is $15,169, or about $3,792 per quarter.
Frequently asked questions
When are quarterly taxes due?
For a calendar-year taxpayer the four deadlines fall roughly on April 15, June 15, September 15, and January 15 of the following year. Missing them can trigger an underpayment penalty even if you pay in full at filing.
How much should I set aside?
A common rule of thumb is 25–30% of net self-employment income, which covers the 15.3% self-employment tax plus a moderate income-tax bracket. High earners in high-tax states should set aside more.
What is the safe-harbor rule?
You generally avoid an underpayment penalty if you pay at least 90% of this year’s tax or 100% of last year’s (110% for higher incomes), whichever is smaller, through withholding and estimates.
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Educational estimate only, using simplified federal rules — it ignores state tax, credits, phase-outs and your full situation. Not tax, legal or financial advice; confirm with a professional.