Free Tool
Self-Employed Tax Set-Aside Calculator
Work out how much of every payment to move into a separate savings account, using a tax percentage you set yourself. No jurisdiction-specific tax advice — just the arithmetic, once you tell it your rate.
| Taxable amount (payment − deductible expenses) | $0 |
| Yours to keep after set-aside | $0 |
This is not tax advice and doesn't know your jurisdiction's tax brackets, credits, or deadlines. It simply reserves the percentage you enter out of each payment so the money isn't spent by the time tax is due. Confirm your rate with a licensed accountant or tax preparer.
How much should I set aside for taxes as a freelancer?
There's no universal answer, because tax rates and rules depend entirely on where you live, how your business is structured, and how much you earn — which is why this calculator asks you to supply your own percentage instead of guessing one for you. What it can do is the arithmetic: once you know (or estimate) your rate, it tells you exactly how much to move out of every payment and into a separate account before you're tempted to spend it.
The mechanics are simple. Take the gross amount a client pays you, subtract any deductible business expenses tied to that income if you want to work from a smaller taxable base, and multiply what's left by your set-aside percentage. That's the amount to transfer — ideally the same day the payment lands, into an account you don't touch for anything else.
Many self-employed people find a rate between 20% and 30% works as a starting point, but this varies hugely by country, income level, and whether you're also setting aside for retirement or a second savings goal on top of tax. Some freelancers deliberately round up — setting aside a bit more than they think they'll owe — so a good year leaves them with a buffer rather than a shortfall. The only way to know your actual number is to ask a licensed accountant or tax preparer familiar with your situation, or to base it on last year's actual tax bill divided by last year's income.
The "per month" figure above is just a projection based on how many similar payments you expect in a typical month — it's there to help you budget, not a separate calculation. If your income is irregular, run the calculator once per payment instead of relying on the monthly estimate.
One habit makes this whole system work: move the money for real, right after each payment, into an account that isn't linked to your everyday spending. A calculator only helps if the number it gives you actually leaves your checking account.
Frequently asked questions
What tax rate should I use?
This tool doesn't recommend one — tax rates depend on your country, state or province, income level, and business structure. A common freelancer starting point in the US is 25–30% of net income, but you should confirm your own number with a licensed accountant or tax preparer, or base it on last year's actual tax bill.
Should I deduct expenses before or after calculating my set-aside?
That depends on how your tax system treats deductions and how you prefer to track them. This calculator lets you optionally subtract deductible expenses from the payment before applying your rate — leave that field at 0 if you'd rather handle deductions separately at tax time.
What if my income is irregular?
Run the calculator per payment rather than relying on the monthly projection, and set aside money the same day each payment arrives. The monthly figure is only a planning estimate based on how many payments you expect in a typical month.
Is this the same as a tax return calculator?
No. This tool does not estimate your actual tax liability, file anything, or account for brackets, credits, or deductions beyond the simple field above. It's a savings-discipline tool — helping you move money aside consistently — not a substitute for filing your taxes.
Want the full system, not just this one number?
This calculator handles one payment at a time. The Freelancer Finance Toolkit includes a full income & expense tracker with a running year-to-date tax set-aside total, an invoice tracker, and a rate calculator — so every payment you log automatically rolls into your set-aside total for the year.
One-time purchase. No subscription.