Freelancer Tax Guide — Richmond (2026)
State and local tax context, an $80,000 example, and practical tips to keep more of what you earn in Richmond.
Quick Answer
Freelancers in Richmond plan for self-employment tax (15.3%) plus federal income tax, and an estimated 5.8% state income tax layer. On $80,000 income, a simplified estimate is about $24,102 total tax and $55,898 take-home (effective rate 30.1%).
Richmond tax overview (planning rates)
- State income tax: ~5.8% planning rate
- Local income tax: None (typical)
- Self-employment tax: 15.3% on net earnings (subject to caps/edge cases)
Freelance market snapshot in Richmond
Typical freelance income: ~$66,000/year. Top industries: Government, Design, Marketing, Tech, Consulting.
Richmond-specific tax tips
- Automate quarterly transfers.
- Track mileage and client travel.
- Use retirement contributions strategically.
Related tools
FAQs
Do freelancers in Richmond pay state income tax?
Yes. Virginia has a state income tax (estimated planning rate ~5.8%).
Do freelancers in Richmond pay local income tax?
Typically no separate local income tax beyond state tax.
How much tax on $80,000 in Richmond?
A simplified estimate on $80,000 is about $24,102 total tax (effective rate ~30.1%), leaving about $55,898 take-home.
How much should I save for quarterly taxes in Richmond?
A starting rule is to save about 28–32% of each payment, then refine once your real deductions are known.
What’s the biggest tax mistake freelancers make in Richmond?
Not paying quarterly estimates consistently — it’s one of the fastest ways to trigger penalties and cash-flow stress.