Why your effective rate is not 30%

Self-employment tax is nearly flat — 15.3% on 92.35% of net profit, so about 14.1% of profit, until earnings reach the Social Security wage base of $184,500. Federal income tax is the part that moves: it starts at nothing, because the standard deduction and the QBI deduction come off first.

So the effective rate climbs with income and, for most freelancers, never reaches 30%. Change the income above and watch it move — the spread is the argument.

What is not in this number

State income tax, except for the nine states that levy none
Credits, itemised deductions and prior-year carryovers
The Additional Medicare Tax, unless earnings pass the threshold for your filing status
Anything about an S-corp election, which changes the arithmetic substantially

The same numbers, four dates

The IRS wants this in instalments rather than in April. The estimated tax calculator takes the same inputs and returns the four payments and their due dates.

Get reminded before each deadline

Four emails a year, roughly ten days before each payment is due. Missing one is almost always an oversight rather than a decision.

Figures on this page are checked against the primary source cited for each one, and the calculations behind them are covered by automated tests. No credentialed tax professional has reviewed this page. Treat it as a well-sourced starting point, not as a substitute for advice on your own situation.