How Much Should You Set Aside for Taxes?

Calculate the exact percentage of freelance income to set aside for 1099 taxes with our free calculator. Get your personalized tax rate based on 2026 federal brackets and your state's income tax.

2026 Tax Set-Aside Calculator

2026 Federal Tax Brackets

Single Filers

10% on income up to: $11,600
12% on income $11,601–$47,150 Progressive
22% on income $47,151–$100,525 Progressive
24% on income $100,526–$191,950 Progressive

Married Filing Jointly

10% on income up to: $23,200
12% on income $23,201–$94,300 Progressive
22% on income $94,301–$201,050 Progressive
24% on income $201,051–$383,900 Progressive

How to Calculate Your Quarterly Tax Payments

Use the Calculator

Enter your expected annual income and filing status to get your personalized tax set-aside percentage.

Save Each Quarter

Multiply your net income by the set-aside percentage and save that amount each time you get paid.

Pay Quarterly

Submit payments by the 1040-ES deadlines: Jan 15, Apr 15, Jun 15, Sep 15.

Important 1040-ES Deadlines for 2026

Quarter Due Date Estimated Payment
Q1 April 15, 2026 1/4 of annual income
Q2 June 16, 2026 1/4 of annual income
Q3 September 15, 2026 1/4 of annual income
Q4 January 15, 2027 1/4 of annual income
Tax Tip: If you earn freelance income consistently throughout the year, you can pay approximately 22.5% of each paycheck (half for self-employment tax, half for income tax). This smooths your payments and avoids underpayment penalties.

Ready for Smarter Tax Management?

HoldQuarter automates tax set-aside and handles your quarterly payments on the 1040-ES schedule.

Try the Free Calculator

Frequently Asked Questions

How much should I set aside for self-employment taxes?

The self-employment tax rate is 15.3% (12.4% for Social Security up to $160,300 in 2026, and 2.9% for Medicare). However, you can deduct half of your self-employment tax as a business expense, so your actual income tax rate may be lower.

Am I required to make quarterly estimated tax payments?

Yes, if you expect to owe at least $1,000 in taxes for the year. The IRS requires freelancers and side-hustlers to pay taxes quarterly to avoid underpayment penalties.

What are safe harbor rules for estimated taxes?

You won't face penalties if you pay either: (1) 100% of last year's tax liability (110% if AGI over $150,000), or (2) 90% of this year's expected tax liability.

How is this different from paycheck withholding?

Employees have taxes withheld automatically. As a freelancer, you must calculate and pay your own taxes quarterly via Form 1040-ES. This calculator helps you determine the right amount.

Important Notice: This calculator provides estimates only. It uses 2026 federal tax brackets and standard deductions. Your actual tax liability depends on your specific situation including credits, itemized deductions, retirement contributions, and other factors. Consult a tax professional for personalized advice. Estimations are not tax advice.