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An estimate, not tax advice: it applies your marginal rates flat, uses your state’s top marginal rate by default (verified 2026-08-27) so you never set aside too little, and ignores credits, deductions beyond half of SE tax, and prior-year safe harbors. The SoloDesq app runs this same math on your actual records instead of estimates.
If you earn 1099 income, the IRS expects you to pay taxes four times per year — not just in April. Here is exactly when, how much, and how to never miss a payment again.
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As a 1099 contractor, you are required to make estimated tax payments four times per year. These are not optional — the IRS charges an underpayment penalty on any quarter where you did not pay enough. For 2026, the due dates are:
(Deadlines that fall on a weekend or federal holiday shift to the next business day.)
Miss a deadline or significantly underpay, and the IRS charges an underpayment penalty — the rate is set by the IRS each quarter (check IRS.gov for the current rate). On a $10,000 underpayment at a 7% annual rate, that is $700 in avoidable fees.
Most tax professionals recommend that 1099 freelancers set aside 25–30% of every payment received as an estimated tax reserve. This covers two obligations: self-employment tax and federal income tax.
Self-employment tax funds Social Security and Medicare. The headline rate is 15.3%, but the IRS does not apply it to 100% of your net self-employment income — it applies to 92.35% of your net income per Schedule SE. For planning purposes, a 30% set-aside on gross payments is a widely used and defensible general estimate for freelancers with moderate income.
General estimate — your actual rate depends on total income, filing status, deductions, and state taxes. Consult a tax professional.
Every time you record a payment in SoloDesq, the app calculates 30% of it and adds it to your estimated tax set-aside target (opt-in). The estimate updates with every entry. That is the saving side. For the paying side, the Tax Dashboard estimates each quarter from your real records — paid invoices and logged income, minus Schedule C expenses and mileage — then adds self-employment, federal, and state tax into one suggested payment with its due date. SoloDesq never holds or moves your money.
Track your quarterly taxes with SoloDesq. 30 days free when it launches — no credit card, no account required.