It depends on your country and income. In Spain, expect to set aside 25-40% of net income for VAT + IRPF + social security. In the US, 25-35% covers federal tax + self-employment tax + state tax. In the UK, 20-35% covers Income Tax + National Insurance. This calculator gives you the exact amount.

US freelancers pay estimated taxes quarterly using Form 1040-ES. This covers federal income tax and self-employment tax (15.3%). You must pay at least 90% of your current year's tax or 100% of last year's to avoid penalties. Payments are due April 15, June 15, September 15, and January 15.

For Spain: Modelo 303 (VAT collected minus VAT on expenses) and Modelo 130 (20% of net profit minus withholdings). For the US: federal brackets + 15.3% SE tax + state tax. For the UK: Income Tax bands + National Insurance Class 2 and Class 4, divided into Payments on Account.

Self-employment tax in the US is 15.3% (12.4% Social Security + 2.9% Medicare) on 92.35% of your net earnings. You pay it quarterly as part of your estimated tax. You can deduct 50% of SE tax from your adjusted gross income.

HMRC's Payment on Account system requires two advance payments per year (January 31 and July 31), each equal to 50% of last year's tax bill. This covers Income Tax and Class 4 National Insurance. The balance is settled when you file your Self Assessment return.

In Spain, Hacienda charges surcharges of 1-20% depending on delay, plus interest. In the US, the IRS charges 0.5% per month penalty. In the UK, HMRC charges interest and possible penalties. Use a tax calendar or Frihet to stay on track.

Modelo 303 is the difference between VAT you charged clients (output VAT) and VAT on your deductible expenses (input VAT). If you billed €10,000 + 21% VAT and had €2,000 in expenses + VAT, you pay: €2,100 - €420 = €1,680 in VAT.

Yes, by maximizing deductible expenses. All expenses necessary for your business (office, equipment, software, professional travel, training) reduce your taxable base. More legitimate expenses means less IRPF/income tax and less net VAT to pay. Frihet tracks expenses automatically with OCR.

Yes, completely free with no signup required. For automatic quarterly tax calculations, deadline alerts, and direct filing to tax authorities, try Frihet.

Spain (Modelo 303 VAT and Modelo 130 IRPF quarterly filings), United States (Form 1040-ES estimated tax including federal, self-employment, and state taxes), and United Kingdom (Payment on Account system with Income Tax and National Insurance).