Freelancer Tax Calculator (India/US)
Freelancer Tax Calculator – India & US
As a freelancer, understanding your tax liability is essential for budgeting and compliance. Whether you're working in India or the US, this Freelancer Tax Calculator helps you estimate your annual tax based on country-specific rules—slabs and cess in India; self-employment and income tax in the US.
How It Works
- India: Applies the FY 2025‑26 new regime slabs—up to ₹12 lakh no tax, rising to 30% plus 4% cess :contentReference[oaicite:1]{index=1}.
- US: Formula includes 15.3% self‑employment tax on 92.35% of income and a flat 22% income tax estimate :contentReference[oaicite:2]{index=2}.
Why Use It?
- 📊 Plan ahead by estimating annual tax obligations
- 💡 Understand key components: slab-tax/cess in India, SE tax + income tax in US
- 🔍 Identify how much to set aside each month
Important Assumptions & Limitations
- 🇮🇳 India calculator uses new tax slabs; basic deduction ₹75k, cess 4% :contentReference[oaicite:3]{index=3}.
- 🇺🇸 US version estimates SE/tax; actual income tax depends on bracket, deductions, state tax :contentReference[oaicite:4]{index=4}.
How to Use This Tool
- Enter your annual freelancer income.
- Select your country: India or US.
- Get an instant estimate with a breakdown and doughnut chart.
FAQs – Freelancer Tax Calculator
1. Does the India calculator include cess?
Yes. It calculates tax slab rates and adds 4% health & education cess :contentReference[oaicite:5]{index=5}.
2. What is self‑employment tax in the US?
It’s 15.3% (12.4% Social Security + 2.9% Medicare) on 92.35% of your net income :contentReference[oaicite:6]{index=6}.
3. Are deductions included?
This tool uses standard deductions (India ₹75k, US standard bracket). Custom deductions like business expenses or housing are not included.
4. How accurate is this estimate?
It's a high-level estimate. For precise computation, consult a tax expert and include deductions and state taxes.