Monthly Tax Savings Calculator

Figure out how much to set aside each month for taxes based on your freelance or self-employment income. Build in a buffer to stay safe.

For estimation purposes only. This calculator provides a general estimate and does not constitute tax advice. Please consult a qualified tax professional for personalized guidance.

Safe Harbor Rule: You won't owe underpayment penalties if you pay at least 90% of your current year tax OR 100% of last year's tax (110% if your AGI was over $150k). Also no penalty if you owe less than $1,000 at filing.

Calculate Your Monthly Tax Savings

2025 tax year

This Month's Income

Your profit this month after business expenses

Year-to-Date Totals

Total net profit so far this year, not including this month
How much you've already saved for taxes this year

Expected Rest of Year (Optional)

Leave blank to use this month's income as estimate

Buffer & Safe Harbor

Add a buffer to account for income variations and stay penalty-free
From your prior year return - used to calculate safe harbor alternative

Important Disclaimer

This calculator provides estimates for planning purposes only. Actual tax liability depends on many factors. The safe harbor rules help avoid penalties but don't eliminate your actual tax obligation - you'll still owe any remaining balance at filing. Consult a tax professional for personalized advice.

Related Topics

Quarterly Taxes Explained

When and how to pay estimated taxes.

Self-Employment Tax

The 15.3% tax for freelancers.

SE Tax Calculator

Full self-employment tax calculation.