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Free tool · 2026 tax year

Set-aside calculator

Enter what you expect to earn and spend as a US freelancer in 2026. We’ll estimate a percent of each payment to move to savings for federal self-employment tax, federal income tax, and optional state tax.

This is not tax advice and not a substitute for IRS Form 1040-ES or a tax professional. The calculator uses simplified 2026 IRS formulas: self-employment tax = 15.3% of 92.35% of net profit, with the Social Security wage base of $184,500; the 2026 standard deduction and ordinary-income brackets; and, if you enter W-2 wages, an incremental income-tax comparison. It does not include the qualified business income deduction, tax credits, itemized deductions, the net investment income tax, alternative minimum tax, or local taxes. Quarterwise is not affiliated with the IRS.
Client payments before expenses, for the year.
Ordinary and necessary costs. Meals are generally only 50% deductible — enter the deductible amount.
Counts first against the $184,500 Social Security wage base, and uses part of your standard deduction and brackets.
A flat estimate applied to simplified taxable income from freelance profit. Use 0 if your state has no income tax.
Optional extra, added on top of the tax estimate.

How the math works

Net profit is gross income minus expenses. If net profit is at least $400, self-employment tax is 12.4% Social Security plus 2.9% Medicare on 92.35% of that profit, with Social Security stopping at the 2026 wage base of $184,500 minus any W-2 wages you entered. Additional Medicare tax of 0.9% is added on combined wages and self-employment income above the IRS thresholds.

Federal income tax uses the 2026 standard deduction and ordinary-income brackets. If you enter W-2 wages, the calculator compares tax with and without your freelance profit and attributes the difference to freelance work. State tax is a simple percentage of that same simplified taxable income — real state rules are more detailed.

For the written walkthrough, see How much should a freelancer set aside for taxes in 2026? Due dates are in the deadlines guide. To log payments all year and update the percent as you go, use the $14 Set-Aside Tracker.

Keep the percent updated all year

The tracker applies this kind of math to every invoice and receipt, with 2026 IRS dates already filled in.

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