Estimated Tax Calculator
Estimate your quarterly federal estimated tax from self-employment profit and other income. Includes self-employment and income tax for 2024.
Independently verified for accuracy
Calculator by Toolsloft ↗- Quarterly payment
- 4875.31
- Self-employment tax
- 11303.64
- Income tax
- 8197.6
- Total annual tax
- 19501.24
Estimate the quarterly federal tax a self-employed person should send to the IRS. Enter your net self-employment profit, any other income, your filing status, and tax already withheld, and the calculator returns the self-employment tax, income tax, and the four equal payments. Figures use the 2024 federal model.
How this is calculated
Self-employment tax is 15.3% on 92.35% of net profit (Social Security capped at the 2024 wage base of $168,600). Half of that tax is deducted from income, then federal income tax is applied to AGI less the standard deduction using the 2024 brackets. The annual liability minus withholding, divided by four, is each quarterly payment. This is an estimate, federal only, and not tax advice.
How to use
- Enter your net self-employment profit for the year.
- Enter any other taxable income and your filing status.
- Enter federal tax already withheld, if any.
- Read the self-employment tax, income tax, and quarterly payment.
Examples
- $80,000 net profit, single:
quarterly $4,875.31 - $40,000 profit + $20,000 income, married:
quarterly $1,386.18
FAQ
- Who needs to pay quarterly estimated tax?
- People who expect to owe at least $1,000 in federal tax beyond withholding, which commonly includes freelancers, contractors, and small-business owners without employer withholding.
- What is the safe-harbor rule?
- You generally avoid an underpayment penalty if your payments cover at least 90% of this year's tax or 100% of last year's (110% if your prior-year AGI was over $150,000). This tool estimates the current-year amount; check the prior-year figure too.
- Does this include state estimated tax?
- No. It estimates federal self-employment and income tax only. Most states with an income tax require separate quarterly payments.