Tax Calculator for Freelance Subcontractors

Answer 3 questions and get an instant estimate of your tax liability for 2021 (Federal and State)

Let us do the math for you!

Are you curious about how freelancers’ taxes are calculated? Learn all about it here

Estimated Income

$

$10,000

$300,000

Estimated Expenses

$

$0

$300,000

With a taxable income of

Income

in

State

,

your total estimated tax liability for 2021 is

Taxes

Taxes

Pie Chart

set

Self-Employment Tax (Federal)

it

Income Tax (Federal)

sit

State Income Tax

Tax Deductions for Subcontractors

Don’t forget about these common tax deductions for subcontractors.

Mileage

Driving around for business? Deduct your car costs.

Storage Space

Whether it’s a section of your garage or a unit at a warehouse, where you keep the tools of your trade is a business expense.

Liability Insurance

Protection has a cost, and it is a business expense.

Lili’s Guide to Becoming a Freelance Contractor

Open your account in less than 3 minutes.

No account fees. No minimum balance. Free VISA business debit card. Save time and money with our exclusive tax tools. Build financial stability with Automatic Savings.