business calculator
Freelance Tax Deduction Calculator
Estimate tax savings from eligible business expense write-offs.
Inputs
Home Office Space
sq ft
sq ft
Monthly Shared Expenses
$
$
$
Other Business Expenses
miles
$
$
%
Results
Estimated Tax Savings
$1,771
Total Deductions$7,082
Home Office Deduction$2,700
Vehicle Mileage Deduction$2,010
Internet Deduction (Business)$672
Formula
Freelance deduction formulas
Total deductions = Home office + Mileage (miles × $0.67) + Internet (70%) + Purchases + ExpensesTax savings = Total deductions × Tax rate. Home office is prorated based on square footage.
Step by step
How the calculation works
- 1Enter home office area and total home area to calculate home office deduction percentage.
- 2Input monthly expenses for rent, utilities, and internet to determine yearly deductions.
- 3Provide annual business mileage and equipment/other expenses.
- 4Specify your estimated marginal tax rate to calculate direct tax savings.
Related guides
Learn more about this calculation
Guide
Freelance Tax Write-Offs: Maximize Business Deductions
A comprehensive guide to self-employment tax deductions, home office write-offs, business mileage, and maximizing your tax savings.
Site Guide
Saving and Exporting Calculations: How to Keep Your Results
Learn how to save calculation results using browser bookmarks, local storage, screenshots, and export options for future reference and comparison.