Freelance Tax Set-Aside Calculator for Film Crew

By the Production Ledger team · Updated October 2026

Every freelancer eventually learns the same lesson: the money in your account on payday is not entirely yours, and the IRS has a long memory and a very patient inbox.

This calculator does the part of the math that comes straight from the IRS rules, the self-employment tax, and then gives you a planning range for what to set aside so April doesn't arrive like a surprise cut to black. Type in your profit for the year, meaning what you were paid minus your business costs, and it does the rest. Nothing you enter leaves your browser.

How the estimate works

Self-employment tax is Social Security and Medicare, the same taxes an employee splits with an employer, except when you work for yourself you pay both halves. The IRS has you multiply your profit by 92.35 percent to get your net earnings, then apply 15.3 percent to them: 12.4 percent for Social Security, which stops at an annual wage cap ($184,500 for 2026), and 2.9 percent for Medicare, which doesn't. If your net earnings are under $400, there's no self-employment tax at all.

You also get to deduct half of that tax when you figure your income tax, which is a small consolation prize for doing all the paying. The calculator shows that number too, because your tax professional will ask about it. Where it all lands on your return is covered in our guide to Schedule C for film crew.

Why there's a range, and why it's bigger

Self-employment tax is only part of what you'll owe. Income tax comes on top, and it depends on your whole situation, so no calculator can promise a single right answer. Many freelancers use 25 to 30 percent of profit as a planning habit. It's a savings discipline and not an IRS rate, and it's meant to be on the generous side, because a surprise refund is a much nicer problem than a surprise bill.

Production Ledger plans around 27 percent as a flat planning estimate, figured on profit and not on collections (everything that came in), so a big invoice that cost a lot to make doesn't trick you into setting aside the wrong amount. It's not tax advice, just a number to plan around, and Production Ledger keeps it running automatically. You can see how on the features page. And if you'd like to understand the bigger picture first, our guide to 1099s for film crew covers quarterly estimated payments and the rest.

Set-aside questions, answered

How much should a freelancer set aside for taxes?

Many freelancers use 25 to 30 percent of profit as a planning habit. It's a savings discipline, not an IRS rate. Self-employment tax alone is 15.3 percent of 92.35 percent of your net profit, and income tax comes on top.

Do I set aside taxes on what I was paid or on what I kept?

On what you kept. Self-employment tax is figured on your profit, which is what you were paid minus your business expenses, so a job that cost a lot to make owes less than the invoice total suggests.

Do I owe self-employment tax on a small amount of freelance income?

Only if your net earnings reach $400, which is the IRS threshold for filing Schedule SE. The income itself is still taxable either way.

Do I have to pay quarterly?

Generally, yes, if you expect to owe at least $1,000 in tax for the year after withholding and credits. You pay with Form 1040-ES, on an April, June, September and January schedule.

Sources: IRS: self-employment tax · Schedule SE instructions · Publication 334. The Social Security wage cap changes every year, so this page's figure is for 2026. This page is education, not individualized tax or legal advice.