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Wealtie blog: Income & freelancing

Budgeting when pay changes month to month: freelancers, contractors, commission and side income.
  • A worried Wally next to the figure $12,037, circled in red: the 2026 US federal tax on $60,000 of self-employed profit.
    INCOME & FREELANCING

    How much to set aside for taxes when you're self-employed

    How much to set aside for taxes when you're self-employed in the US: about 20% to 25% of your profit for federal tax, plus your state's income tax. A single filer with $60,000 of profit in 2026 owes about $12,000, or 20%. Move it out every time a client pays, not in April.

    · 4 min read