FreelanceHow much do you owe on your next quarterly tax payment?
Enter what you expect to make on 1099 work this year. The estimate updates as you type, and every line of the math is shown below it.
Your next quarterly payment
$15,034
Due Jan 15, 2027
Only the Jan 15, 2027 deadline is still ahead, so the full balance is due then.
Next quarterly payment $15,034, due Jan 15, 2027. Safe harbor minimum $11,800 per payment.
Safe harbor minimum $11,800 per payment
Pay at least $11,800 across the year, a quarter of it by each deadline, and the underpayment penalty cannot apply, even if you end up owing more. Based on 100% of last year's tax, which is the lower of the two tests.
Some 2026 deadlines have already passed. A quarter of that total was due by each one, so a quarter paid late can still carry a penalty; paying now stops it growing. See what it costs.
Or skip the January 15 payment
File your complete 2026 return by Feb 1, 2027 and pay the entire balance with it, and the IRS does not expect the fourth installment. January 31 is a Sunday in 2027, which is why the date moves to Monday. It only works if your 1099s and books are ready by then. Source: 2026 Form 1040-ES, Payment Due Dates.
Your taxable income is past the qualified business income threshold, so that deduction is being reduced by the wage limit. If you are in a specified service field, the reduction can be steeper than shown.
| What you earned | |
|---|---|
| Expected 1099 income | $85,000 |
| Less deductible business expenses | $12,000 |
| Net profit from freelancing | $73,000 |
| Self employment tax | |
| Earnings subject to self employment tax | $67,416 |
| Social Security portion | $8,360 |
| Medicare portion | $1,955 |
| Additional Medicare over the threshold | $0 |
| Self employment tax | $10,315 |
| Federal and state | |
| Deductible half of self employment tax | $5,157 |
| Qualified business income deduction | $10,349 |
| Standard deduction for your filing status | $16,100 |
| Other W-2 income added back | $0 |
| Taxable income after deductions | $41,394 |
| Federal income tax | $4,719 |
| State income tax at your flat rate | $0 |
| What you still owe | |
| Total tax owed for 2026 | $15,034 |
| Less estimated payments already made | $0 |
| Still owed for the year | $15,034 |
| Your next quarterly payment | $15,034 |
Stop re-entering this every quarter. FreelanceCFO tracks it from your real income and warns you before each deadline.
Start freeQuestions answered.
How much should I set aside for taxes as a freelancer?
A common rule is 25% to 30% of every payment, but the honest answer depends on your profit, your filing status, and your state. Self employment tax lands on your net profit before federal income tax is even calculated, so a good month can push you past the rule of thumb. Run your real numbers above, then set aside that share of each invoice as it arrives.
When are 2026 quarterly estimated taxes due?
Four installments cover the 2026 tax year: April 15, June 15, and September 15 of 2026, then January 15 of 2027 for the final quarter. You can skip the January payment if you file your complete 2026 return and pay the entire balance by February 1, 2027. If a date falls on a weekend or a federal holiday the IRS moves it to the next business day, so check the current year notice before you pay. Miss one and the penalty starts accruing from that date.
What happens if I underpay my quarterly taxes?
The IRS charges an underpayment penalty, which works like interest on the amount you were short, counted from the deadline you missed. It is not a flat fine, so a small shortfall costs little and a large one compounds. Safe harbor rules can protect you if you pay enough of last year's total or this year's expected tax, so paying something always beats paying nothing.
Do I owe quarterly taxes if I also have a W-2 job?
Often yes, because your W-2 withholding rarely covers the tax on freelance profit. Two things change: your W-2 wages use up part of the Social Security wage base, so less of your self employment income is subject to that portion, and your combined income can push the freelance dollars into a higher bracket. You can also raise your W-2 withholding instead of sending quarterly payments.
What counts as a deductible business expense?
Anything ordinary and necessary for the work you do: software, hardware, a home office share of rent and utilities, professional insurance, contractor payments, business travel, and the mileage you drive for clients. Personal spending does not qualify, and mixed use items only count for the business share. Keep the receipt and a one line note on why it was needed, because that note is what survives an audit.
What is the safe harbor for estimated taxes?
Safe harbor is the amount that makes the underpayment penalty impossible, whatever you end up owing. Pay either 90% of this year's total tax or 100% of last year's, whichever is smaller, and the IRS cannot charge you for underpaying. That 100% rises to 110% if your prior year adjusted gross income was over $150,000. It is often the smaller number, which is why a good year does not have to mean a painful quarter: enter last year's figures in the calculator above and it shows you the floor.
Do freelancers always get the full 20% qualified business income deduction?
No. The deduction is 20% of your business profit after the deductible half of self employment tax, but it is also capped at 20% of your taxable income, and it starts phasing out once taxable income passes $201,750 for a single filer or $403,500 filing jointly. Above that range the deduction is limited by the W-2 wages your business pays, so a solo freelancer with no payroll can lose it entirely and keep only the $400 minimum that applies from 2026 to anyone with at least $1,000 of qualified business income. Most calculators ignore this and overstate the deduction badly for high earners.