US freelancers pay two federal taxes on their profit: self-employment tax, which funds Social Security and Medicare, and income tax. Nobody withholds either from 1099 payments, so the IRS expects you to pay during the year in four estimated payments.
For 2026 the key numbers are the $184,500 Social Security wage base, a $16,100 standard deduction for single filers ($32,200 married filing jointly), and estimated payment dates of 15 April, 15 June and 15 September 2026 and 15 January 2027. The calculators below use these figures, checked against IRS and SSA sources.
1. Estimate the year and the quarterly payments
Start here: federal income tax plus self-employment tax on your expected profit, split into four payments.
2. Save from every payment
Turn the annual estimate into a percentage to move into a tax account each time a client pays.
3. Decide on the structure
Check whether an S corp election would save money after payroll costs, and compare contractor and employee costs if you're hiring.
- LLC vs Sole Proprietor Tax Calculator (S Corp Election)Compare self-employment tax as a sole proprietor or single-member LLC with payroll tax under an S corporation election, after the extra costs of running payroll.
- Contractor vs Employee Cost CalculatorCompare the full yearly cost of hiring an employee with paying a contractor for the same hours, and find the break-even contractor rate.
4. Price and get paid
Make sure your rate already includes tax, and see what card processors take from each payment.
- Freelance Hourly Rate CalculatorWork out an hourly rate that actually covers your income goal, expenses, and self-employment tax, not just a guess.
- Payment Processor Fee Comparison (Stripe, PayPal, Paddle, Lemon Squeezy, Gumroad)Compare what Stripe, PayPal, Paddle, Lemon Squeezy and Gumroad would charge on your price and sales volume, including international buyers and tax handling.
Questions people ask
Do I have to pay quarterly taxes as a freelancer?
Generally yes, if you expect to owe $1,000 or more in federal tax for the year after withholding and credits. Paying late or too little can bring an underpayment penalty.
What is the self-employment tax rate in 2026?
15.3% on 92.35% of net self-employment earnings: 12.4% Social Security up to $184,500 and 2.9% Medicare with no cap, plus 0.9% Additional Medicare Tax above $200,000 for single filers.
Do these calculators include state taxes?
No, they cover federal taxes. Most states have their own income tax and estimated payment schedule, so add your state's amount on top.