Who has to pay quarterly estimated taxes?
If you're a freelancer, independent contractor or sole proprietor, nobody withholds tax from your payments. The IRS generally expects you to pay estimated tax during the year if you'll owe $1,000 or more when you file. Missing payments can lead to an underpayment penalty, even if you pay everything in full in April.
What this calculator includes
- Self-employment tax: 15.3% on 92.35% of your profit. That's 12.4% Social Security (on earnings up to the 2026 wage base of $184,500) and 2.9% Medicare.
- Additional Medicare tax: 0.9% on self-employment earnings above $200,000 ($250,000 married filing jointly).
- Federal income tax using the 2026 brackets and standard deduction ($16,100 single, $32,200 married filing jointly), after deducting half of your self-employment tax.
- QBI deduction of up to 20% of your qualified business income, if you leave it ticked.
2026 federal tax brackets
| Rate | Single | Married filing jointly |
|---|---|---|
| 10% | $0 – $12,400 | $0 – $24,800 |
| 12% | $12,401 – $50,400 | $24,801 – $100,800 |
| 22% | $50,401 – $105,700 | $100,801 – $211,400 |
| 24% | $105,701 – $201,775 | $211,401 – $403,550 |
| 32% | $201,776 – $256,225 | $403,551 – $512,450 |
| 35% | $256,226 – $640,600 | $512,451 – $768,700 |
| 37% | Over $640,600 | Over $768,700 |
2026 payment due dates
| Income earned | Payment due |
|---|---|
| Jan 1 – Mar 31 | April 15, 2026 |
| Apr 1 – May 31 | June 15, 2026 |
| Jun 1 – Aug 31 | September 15, 2026 |
| Sep 1 – Dec 31 | January 15, 2027 |
You can pay online through IRS Direct Pay or your IRS online account.
Tips to make tax time easier
- Move a fixed share of every payment you receive into a separate savings account. The "% of your profit" figure above is a good starting point.
- Track expenses all year: software, equipment, a home office and platform fees all reduce your profit.
- If your income changes a lot during the year, rerun this calculator before each deadline and adjust.
- Not sure what to charge to cover this? Try the freelance hourly rate calculator.
Frequently asked questions
How much should I set aside for taxes as a freelancer?
Many freelancers set aside 25–30% of their profit for federal taxes, plus state tax if their state has an income tax. Enter your numbers above to get a figure for your situation.
What is the self-employment tax rate for 2026?
15.3% on 92.35% of net self-employment earnings: 12.4% for Social Security up to $184,500 and 2.9% for Medicare with no limit, plus 0.9% additional Medicare tax above $200,000 for single filers.
When are 2026 quarterly estimated taxes due?
April 15, June 15 and September 15, 2026, and January 15, 2027.
Do I have to pay quarterly taxes if I also have a job?
If tax withheld from your wages doesn't cover what you'll owe on your freelance income, you may need to make estimated payments or increase your W-4 withholding.
Sources
- IRS – Estimated taxes
- IRS – Self-employment tax
- IRS – 2026 inflation adjustments (Rev. Proc. 2025-32)
- SSA – 2026 contribution and benefit base
This calculator gives estimates for planning only. It is not tax, legal or financial advice. Rules and fees change, so check the official source or a qualified professional before making decisions.