Question 1

How much tax does a $100K freelancer pay?

Accepted Answer

A single $100K freelancer with no deductions beyond standard pays roughly $28,000-$33,000 in total taxes (federal + SE + state, depending on state). This includes about $14,100 in self-employment tax and $10,000-$15,000 in federal income tax.

Question 2

What's the effective tax rate on $100K freelance income?

Accepted Answer

Without state tax, the effective federal + SE tax rate on $100K is approximately 28-30%. In high-tax states like California or New York, total effective rates can reach 35-40%. In no-tax states like Texas or Florida, it stays around 28%.

Question 3

How can a $100K freelancer reduce taxes?

Accepted Answer

Top strategies: 1) Max out a SEP IRA ($25,000 contribution = $6,000+ tax savings), 2) Claim home office deduction, 3) Track all business expenses, 4) Consider S-Corp election (can save $3,000-5,000 in SE tax), 5) Make quarterly payments to avoid penalties.

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