The Freelancer's Guide to Taxes in 2025
•By FFH Editorial Team
Understanding the 15.3% Self-Employment Tax
As an independent contractor, you are responsible for paying the full 15.3% Self-Employment tax. This covers both the employer and employee portions of Social Security and Medicare.
Unlike W-2 employees who have taxes withheld from each paycheck, freelancers must set aside this money themselves and make quarterly estimated tax payments...
Quarterly Deadlines
- Q1: April 15
- Q2: June 15
- Q3: September 15
- Q4: January 15 (Next Year)
If you ignore these deadlines, you will face IRS underpayment penalties. Use our Self-Employment Tax Calculator to project exactly what you owe.
The Power of Write-Offs
Every dollar you spend on "ordinary and necessary" business expenses lowers your Net Profit, which directly lowers your SE tax burden down the line. Use our Business Expense Calculator to estimate your savings.