Freelance & Self-Employed
Freelance Income Tax Calculator
Calculate income tax, self-employment tax, and net earnings for freelancers.
💰 Income & Expenses
Gross Freelance Income
$
Business Expenses
$
Equipment, software, home office, travel, etc.
📊 Tax Settings
Income Tax Rate
%
Your applicable income tax bracket
Self-Employment Tax Rate
%
Social Security + Medicare (typically 15.3%)
🏦 Deductions & Credits
Standard Deduction
$
Standard deduction for single filer (2023)
Additional Deductions
$
Retirement contributions, student loan interest, etc.
Tax Credits
$
Education, child tax credits, etc.
Tax
0%
Total Tax
$0
income + self-employment
Net Business Income
$0
Taxable Income
$0
Income Tax
$0
Self-Employment Tax
$0
📊 Tax Breakdown
| Component | Amount | % of Gross |
|---|
How the formula works
Net Income = Gross Income − Business Expenses | Taxable Income = Net Income − Deductions
- Net Business Income = Gross Freelance Income − Business Expenses
- Taxable Income = Net Business Income − Standard Deduction − Additional Deductions
- Income Tax = Taxable Income × Income Tax Rate
- Self-Employment Tax = Net Business Income × Self-Employment Tax Rate
- Total Tax = Income Tax + Self-Employment Tax − Tax Credits
- Effective Tax Rate = Total Tax ÷ Net Business Income × 100