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(631) 532-5622 · Amityville, NY
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Plan your estimated taxes.
For 1099 contractors and Schedule C owners. Tell it what you expect to net this year, what you've already paid in, and last year's tax — and it estimates your full-year federal self-employment and income tax, then shows the quarterly payments you need to either stay penalty-safe (the safe harbor) or come out roughly even. Handles a W-2 or self-employed spouse, and NY / NJ / CT.
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Self-employment tax Safe harbor or break-even Quarterly amounts W-2 or freelancer spouse NY · NJ · CT
1099 / Schedule C planner
What should your quarterly estimates be?

No taxes are withheld from 1099 income, so the IRS expects you to pay as you go in quarterly installments. Miss enough and you get an underpayment penalty. This estimates your full-year federal tax — income tax plus self-employment tax — then tells you what to send in to either stay penalty-safe or owe about zero in April. Federal uses 2026 figures; state uses the latest published brackets.

Freelancer Estimated Tax Calculator
Federal self-employment + income tax — safe harbor & break-even — tax year 2026
Sets deduction, brackets & credits
Tri-state only (NY / NJ / CT)
Income
Expected Schedule C net profit this year
$
Interest, dividends, retirement, rental, etc.
$
Deductions & dependents
Standard is filled in by filing status
Student loan interest, HSA, SEP, etc. (optional)
$
Child Tax Credit ($2,200 each)
Credit for Other Dependents ($500 each)
Payments & safe harbor
Last year's Form 1040 total tax
$
Quarterly estimated payments already sent
$
From W-2 paychecks (you + spouse)
$
$75k if married filing separately — sets 110% safe harbor
Used to count remaining quarterly due dates

* Estimated 2026 federal tax (income tax + self-employment tax) from the figures you entered. The safe harbor is the lesser of 90% of this year's tax or 100% / 110% of last year's. Break-even targets this year's full tax. What this does and does not do ↓

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What this estimate covers — and what it doesn't

Two numbers matter for estimated taxes. The safe harbor is the amount you must pay during the year to avoid an underpayment penalty — the lesser of 90% of this year's tax or 100% of last year's (110% if your prior-year AGI topped $150,000). Hitting it means no penalty, even if you still owe a balance at filing. Break-even is paying your full estimated tax now so there's little or nothing left to pay in April. This tool shows both, and what's left to pay across the remaining quarterly due dates.

It's a planning estimate and it stays simple on purpose. It does not apply the 20% qualified business income (QBI) deduction — so it errs on the high side, which is the safe direction for setting estimates. It also leaves out the Additional Medicare Tax (0.9%), the Net Investment Income Tax (3.8%), capital-gain and qualified-dividend preferential rates (the "other income" box is taxed as ordinary income), the AMT, and most credits beyond the child/dependent credits. If any of those are in play, treat this as a starting point and let us run the real projection.

State figures are approximate. New York, New Jersey, and Connecticut are estimated from each state's brackets and standard deduction or exemptions on your federal AGI. They skip state-specific additions/subtractions, most credits, most local taxes (NYC and the Yonkers resident surcharge are offered as rough add-ons), and quirks like Connecticut's benefit recapture. Use the state number directionally.
How the math works
Assumptions & rates used
What the calculator does with your inputs
Self-employment tax: 15.3% on 92.35% of net profit — 12.4% Social Security up to the 2026 wage base of $184,500, plus 2.9% Medicare on all of it. One-half is deducted above the line.
Federal income tax (2026): ordinary brackets for your filing status on taxable income = AGI − (standard or itemized deduction). AGI = all income − ½ SE tax − your above-the-line adjustments.
Credits: $2,200 per child under 17 and $500 per other dependent, phased out above $400,000 AGI (MFJ) / $200,000 (others). Applied against income tax only.
Safe harbor: the lesser of 90% of this year's total federal tax or 100% of last year's (110% if prior-year AGI > $150,000 / $75,000 MFS). Withholding + estimates already paid count toward it.
Quarterly split: the remaining amount is divided evenly across the 2026 estimated-tax due dates still ahead (Apr 15, Jun 15, Sep 15, and Jan 15, 2027).
State (NY/NJ/CT): latest published (2025) brackets on federal AGI, less each state's standard deduction (NY) or personal exemptions (NJ/CT). Rough — see the note above.
Not modeled: the QBI/§199A deduction, Additional Medicare Tax (0.9%), Net Investment Income Tax (3.8%), capital-gain/qualified-dividend rates, AMT, the refundable Child Tax Credit, and credits beyond CTC/ODC. Coordination of the Social Security wage base between a spouse's W-2 wages and self-employment income is not modeled. This is a planning estimate, not a tax return.
Stop guessing at your quarterlies.
Geiger Tax & Accounting builds estimated-tax projections for freelancers and 1099 businesses — federal and New York / New Jersey / Connecticut — with the QBI deduction, retirement contributions, and your full picture factored in, plus reminders before each due date. Long Island based, serving the tri-state and nationwide.
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Disclaimer: This calculator provides a simplified estimate of federal (and, for NY/NJ/CT, state) income and self-employment tax for general informational and planning purposes only. It is not tax advice, not a tax return, and not a guarantee against an underpayment penalty, which depends on your complete and final tax situation and payment timing. It omits the QBI deduction, several taxes and credits, and state-specific rules. Consult a licensed tax professional before making estimated payments or tax decisions.