Freelance Tax Set-Aside Calculator (2026)

Your numbers

Federal estimate uses 2026 Schedule SE (92.35% of profit, 12.4% Social Security up to $184,500 minus W-2 wages, 2.9% Medicare) plus 2026 IRS brackets and the standard deduction. No QBI deduction and no Additional Medicare Tax in this sketch. State is a flat % of profit you enter. Check the safe-harbor calculator for the IRS underpayment target, and the self-employment tax calculator for SE tax alone.

2026 estimated tax due dates

Move the set-aside into a separate savings account the day each invoice clears, then pay at IRS.gov/payments.

Stop guessing on every invoice

The Freelancer Income & Quarterly Tax Tracker logs invoices and expenses and keeps a running quarterly estimate so the January 15 payment isn't a surprise. Excel and Google Sheets, instant download.

Questions

How much should freelancers set aside for taxes?

A common rule of thumb is 25% to 35% of each payment, but the right figure is your own effective tax rate: estimated self-employment tax plus federal (and state) income tax, divided by net profit. This calculator estimates that rate from your expected annual profit and shows the dollar amount to move when an invoice clears.

Why set aside from every invoice instead of waiting until the quarter ends?

Estimated taxes are due four times a year. If the money is spent before the due date, you either underpay (and risk a penalty) or scramble. Moving the set-aside the day a client pays keeps the IRS money out of your operating cash.

Does this include state tax?

Only if you enter a state rate. State estimated-tax rules and brackets vary; use a flat percentage as a rough buffer, then confirm with your state revenue site or a tax professional.

Is the set-aside the same as the IRS safe harbor?

No. The set-aside is a habit for funding payments. The safe harbor is the minimum total of withholding plus timely estimates that generally avoids the underpayment penalty. Use both: this page for each invoice, and the safe-harbor calculator for the annual target.

Is this tax advice?

No. It's a free planning calculator based on general 2026 federal rules. Special cases (QBI, Additional Medicare Tax, uneven income, farmers and fishers) can differ.