Taxes for Freelancers
Income mix: Schedule C / 1099-NEC income; mixed W-2 months; productized digital sales.
Common deduction themes
- Home office (simplified or actual) when exclusive-use tests are met
- Software, contractors, and marketing ordinary to the trade
- Quarterly estimated taxes and retirement (SEP / solo 401(k))
Freelancers often under-save for April because client payments feel like “take-home.” Separate a tax reserve (federal income + SE + state) as soon as invoices clear, then true up with quarterly estimates.
QBI may deduct up to 20% of qualified profit if you stay under thresholds or clear wage/property tests. Home-office claims need exclusive and regular use—kitchen-table setups usually fail.
Related calculators
- Business & self-employed Self-Employment Tax self employment tax calculator
- Federal & paycheck Quarterly Estimated Tax quarterly estimated tax calculator
- Business & self-employed Home Office Deduction home office deduction calculator
- Retirement & health SEP IRA / Solo 401(k) SEP IRA vs Solo 401k calculator
- Business & self-employed Section 199A QBI Deduction QBI deduction calculator