{"id":20336,"date":"2017-06-14T12:00:00","date_gmt":"2017-06-14T12:00:00","guid":{"rendered":"https:\/\/www.hrblock.com\/tax-center\/"},"modified":"2021-07-06T14:16:50","modified_gmt":"2021-07-06T19:16:50","slug":"freelance-income-tax","status":"publish","type":"post","link":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/","title":{"rendered":"How much of my freelance income should I put aside for freelance income tax?"},"content":{"rendered":"<p>To figure your estimated freelance income tax, you must estimate these items for the new year:<\/p>\n<ul>\n<li>Adjusted gross income (AGI)<\/li>\n<li>Taxable income<\/li>\n<li>Income taxes<\/li>\n<li>Self-employment taxes<\/li>\n<li>Deductions<\/li>\n<li>Credits<\/li>\n<\/ul>\n<p>Use your prior-year return as a guide. Adjust the amounts in each category, including freelance income tax, for changes you expect in the coming year. Your income minus deductions and credits will be your taxable income for the year.<\/p>\n<p>Based on your filing status and age, check the tax tables against your estimated taxable income for the year. This will determine your estimated tax liability.<\/p>\n<p>Divide your estimated tax liability into four estimated payments to be made each quarter. This assumes you&#8217;ll receive the income evenly throughout the year. If your income changes during the year, you should recalculate each quarterly payment based on the new amounts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>To figure your estimated freelance income tax, you must estimate these items for the new year: Adjusted gross income (AGI) Taxable income Income taxes Self-employment taxes Deductions Credits Use your prior-year return as a guide. Adjust the amounts in each category, including freelance income tax, for changes you expect in the coming year. Your income [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[24,50],"tags":[],"class_list":["post-20336","post","type-post","status-publish","format-standard","hentry","category-income","category-other-income"],"acf":[],"yoast_head":"<title>Freelance Income Tax | H&amp;R Block<\/title>\n<meta name=\"description\" content=\"Learn more about freelance income tax with advice from the experts at H&amp;R Block.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How much of my freelance income should I put aside for freelance income tax?\" \/>\n<meta property=\"og:description\" content=\"Learn more about freelance income tax with advice from the experts at H&amp;R Block.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/\" \/>\n<meta property=\"og:site_name\" content=\"H&amp;R Block\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/hrblock\" \/>\n<meta property=\"article:published_time\" content=\"2017-06-14T12:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-07-06T19:16:50+00:00\" \/>\n<meta name=\"author\" content=\"H&amp;R Block\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@HRBlock\" \/>\n<meta name=\"twitter:site\" content=\"@hrblock\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"H&amp;R Block\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/\"},\"author\":{\"name\":\"H&amp;R Block\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/#\\\/schema\\\/person\\\/0451551be86ad17708cdd08a71391fcf\"},\"headline\":\"How much of my freelance income should I put aside for freelance income tax?\",\"datePublished\":\"2017-06-14T12:00:00+00:00\",\"dateModified\":\"2021-07-06T19:16:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/\"},\"wordCount\":150,\"articleSection\":[\"Income\",\"Other income\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/\",\"url\":\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/\",\"name\":\"Freelance Income Tax | H&R Block\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/#website\"},\"datePublished\":\"2017-06-14T12:00:00+00:00\",\"dateModified\":\"2021-07-06T19:16:50+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/#\\\/schema\\\/person\\\/0451551be86ad17708cdd08a71391fcf\"},\"description\":\"Learn more about freelance income tax with advice from the experts at H&R Block.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/income\\\/other-income\\\/freelance-income-tax\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/resource-center.hrblock.com\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How much of my freelance income should I put aside for freelance income tax?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/#website\",\"url\":\"https:\\\/\\\/resource-center.hrblock.com\\\/\",\"name\":\"H&amp;R Block\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/resource-center.hrblock.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/#\\\/schema\\\/person\\\/0451551be86ad17708cdd08a71391fcf\",\"name\":\"H&amp;R Block\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/resource-center.hrblock.com\\\/wp-content\\\/uploads\\\/2017\\\/08\\\/BlockAuthor.jpg\",\"url\":\"https:\\\/\\\/resource-center.hrblock.com\\\/wp-content\\\/uploads\\\/2017\\\/08\\\/BlockAuthor.jpg\",\"contentUrl\":\"https:\\\/\\\/resource-center.hrblock.com\\\/wp-content\\\/uploads\\\/2017\\\/08\\\/BlockAuthor.jpg\",\"caption\":\"H&amp;R Block\"},\"sameAs\":[\"http:\\\/\\\/hrblock.com\",\"https:\\\/\\\/www.facebook.com\\\/hrblock\",\"https:\\\/\\\/x.com\\\/HRBlock\"]}]}<\/script>","yoast_head_json":{"title":"Freelance Income Tax | H&R Block","description":"Learn more about freelance income tax with advice from the experts at H&R Block.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/","og_locale":"en_US","og_type":"article","og_title":"How much of my freelance income should I put aside for freelance income tax?","og_description":"Learn more about freelance income tax with advice from the experts at H&R Block.","og_url":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/","og_site_name":"H&amp;R Block","article_publisher":"https:\/\/www.facebook.com\/hrblock","article_author":"https:\/\/www.facebook.com\/hrblock","article_published_time":"2017-06-14T12:00:00+00:00","article_modified_time":"2021-07-06T19:16:50+00:00","author":"H&amp;R Block","twitter_card":"summary_large_image","twitter_creator":"@HRBlock","twitter_site":"@hrblock","twitter_misc":{"Written by":"H&amp;R Block","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/#article","isPartOf":{"@id":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/"},"author":{"name":"H&amp;R Block","@id":"https:\/\/www.hrblock.com\/tax-center\/#\/schema\/person\/0451551be86ad17708cdd08a71391fcf"},"headline":"How much of my freelance income should I put aside for freelance income tax?","datePublished":"2017-06-14T12:00:00+00:00","dateModified":"2021-07-06T19:16:50+00:00","mainEntityOfPage":{"@id":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/"},"wordCount":150,"articleSection":["Income","Other income"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/","url":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/","name":"Freelance Income Tax | H&R Block","isPartOf":{"@id":"https:\/\/www.hrblock.com\/tax-center\/#website"},"datePublished":"2017-06-14T12:00:00+00:00","dateModified":"2021-07-06T19:16:50+00:00","author":{"@id":"https:\/\/www.hrblock.com\/tax-center\/#\/schema\/person\/0451551be86ad17708cdd08a71391fcf"},"description":"Learn more about freelance income tax with advice from the experts at H&R Block.","breadcrumb":{"@id":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.hrblock.com\/tax-center\/income\/other-income\/freelance-income-tax\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.hrblock.com\/tax-center\/"},{"@type":"ListItem","position":2,"name":"How much of my freelance income should I put aside for freelance income tax?"}]},{"@type":"WebSite","@id":"https:\/\/www.hrblock.com\/tax-center\/#website","url":"https:\/\/www.hrblock.com\/tax-center\/","name":"H&amp;R Block","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.hrblock.com\/tax-center\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.hrblock.com\/tax-center\/#\/schema\/person\/0451551be86ad17708cdd08a71391fcf","name":"H&amp;R Block","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2017\/08\/BlockAuthor.jpg","url":"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2017\/08\/BlockAuthor.jpg","contentUrl":"https:\/\/www.hrblock.com\/tax-center\/wp-content\/uploads\/2017\/08\/BlockAuthor.jpg","caption":"H&amp;R Block"},"sameAs":["http:\/\/hrblock.com","https:\/\/www.facebook.com\/hrblock","https:\/\/x.com\/HRBlock"]}]}},"_links":{"self":[{"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/posts\/20336","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/comments?post=20336"}],"version-history":[{"count":0,"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/posts\/20336\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/media?parent=20336"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/categories?post=20336"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.hrblock.com\/tax-center\/wp-json\/wp\/v2\/tags?post=20336"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}