How this tool works
This calculator subtracts business expenses from monthly revenue, estimates a tax reserve from net profit, adds an optional savings buffer, and converts the result into monthly, quarterly, and annual set-aside targets.
Freelance Tax Set-Aside Calculator
Free freelance tax set-aside calculator for estimating monthly tax reserve, quarterly set-aside target, net income after expenses, and savings buffer.
- Browser-based
- No signup
- Copy result
Inputsfreelance tax set aside calculator
Formula or template logic
monthlyNetBeforeTax = monthlyRevenue - monthlyExpenses; taxablePlanningBase = max(monthlyNetBeforeTax, 0); estimatedMonthlyTax = taxablePlanningBase * (taxPercentage / 100); extraBuffer = estimatedMonthlyTax * (taxBufferPercentage / 100); monthlySetAside = estimatedMonthlyTax + extraBuffer; quarterlySetAside = monthlySetAside * 3; annualSetAside = monthlySetAside * 12
Example use case
If monthly revenue is 8,000, expenses are 1,200, tax estimate is 25%, and buffer is 10%, the calculator estimates the monthly and quarterly reserve to move into a tax savings account.
Frequently asked questions
Is this tax advice?
No. It is a planning estimate. Ask a qualified tax professional for tax advice.
Why use net profit instead of revenue?
Many self-employed tax calculations start from profit, which is income minus business expenses.
Why show a quarterly amount?
Self-employed people often plan around quarterly estimated tax payments.
What tax percentage should I use?
Use a conservative estimate based on your location, income, business structure, and professional advice.
What happens if expenses are higher than revenue?
The calculator shows no estimated tax reserve from profit and makes the negative cash position visible.