Freelancer Tax Calculator
2026 Self-employed Income Tax Calculation
Calculate comprehensive income tax for freelancers and self-employed. Deduct business expenses from 3.3% withheld amount and check actual tax payable.
๐ผ What is Freelancer Tax?
Freelancers are classified as business income and must file comprehensive income tax. While 3.3% (3% income + 0.3% local) is withheld, this is just prepayment. The actual tax is settled in May when you deduct business expenses.
๐ Income Tax Calculator
Gross Income
5000๋ง์
Taxable Income
3625๋ง์
Total Tax
460๋ง์
Effective: 9.2%
After-tax
4540๋ง์
๐ Tax Breakdown
Tax Payable
Tax by Bracket
๐ 2024 Income Tax Brackets
| Taxable Income | Rate | Deduction |
|---|---|---|
| 0์ ~ 1400๋ง์ | 6% | 0์ |
| 1400๋ง์ ~ 5000๋ง์ | 15% | 1,260,000์ |
| 5000๋ง์ ~ 8800๋ง์ | 24% | 5,760,000์ |
| 8800๋ง์ ~ 1.5์ต์ | 35% | 15,440,000์ |
| 1.5์ต์ ~ 3.0์ต์ | 38% | 19,940,000์ |
| 3.0์ต์ ~ 5.0์ต์ | 40% | 25,940,000์ |
| 5.0์ต์ ~ 10.0์ต์ | 42% | 35,940,000์ |
| 10.0์ต์ over | 45% | 65,940,000์ |
Income Tax Result
Total Tax 460๋ง์
โจ 9.2% effective rateBased on 5000๋ง์ annual income
๐ข Share with friends
Share this useful information
#IncomeTax #TaxCalculator #Taxes
Note
This calculator is for estimation purposes. Actual tax may vary by individual circumstances. Please consult a tax professional for accurate calculations.
๐ Freelancer Tax Calculation
Business Income = Total Revenue - Business Expenses
Taxable Base = Income - Deductions
Calculated Tax = Base ร Progressive Rate (6-45%)
Final Tax = Calculated - Credits - Prepaid (3.3%)
๐ How to Calculate
- Enter annual total revenue
- Enter business expenses (actual or standard rate)
- Enter personal exemptions and deductions
- Enter tax credits (pension, medical, etc.)
- Check prepaid tax (3.3% withholding)
- View final tax payment or refund
๐ Estimated Tax by Revenue (60% expense rate)
| Revenue | Expenses | Taxable | Tax | Prepaid | Due/Refund |
|---|---|---|---|---|---|
| $24K | $14.4K | $8.1K | $480 | $790 | Refund $310 |
| $36K | $21.6K | $12.9K | $900 | $1.19K | Refund $290 |
| $48K | $28.8K | $17.7K | $1.47K | $1.58K | Refund $110 |
| $60K | $36K | $22.5K | $2.21K | $1.98K | Due $230 |
| $80K | $48K | $30.5K | $3.65K | $2.64K | Due $1.01K |
| $100K | $60K | $38.5K | $5.41K | $3.3K | Due $2.11K |
๐ก Freelancer Tax Tips
- Keep all expense receipts (equipment, utilities, transport)
- Standard expense rate: 60-80% depending on industry
- Pension savings for tax credits (up to 7M KRW)
- Join Yellow Umbrella for deductions + protection
- Business registration allows VAT refunds
- Under 48M income: maximize standard deductions
๐ Local Method & Assumption Guide
Formula Logic
Core formulas use public finance, loan, ratio, and unit conversion standards.
Source Scope
References follow publicly available standards and country-level common practices.
Assumptions
Taxes, fees, rates, and limits vary by region and institution.
Result Interpretation
Use this result as a baseline scenario. For decisions, compare with your lender quote and local tax treatment.
Locale Preset
Currency: USD
Units: imperial
Tax logic: US payroll estimate
Regulatory Note
This tool uses regional presets for estimation. Contract terms and legal limits may differ by lender, bank, or local law.
Recommended Next Actions
- Compare at least 2-3 local providers before final submission.
- Re-check fees, tax treatment, and prepayment clauses in writing.
- Run a stress scenario with +1-2% interest and lower income.
Before a real financial decision, confirm with local institution rules.