Arkansas
Self-Employment Tax Calculator

How much will you owe in self-employed taxes this year?

You don't need to make an estimated tax payment🍹

You'll owe about $0

Estimated total Federal &   State tax payment due at the end of the year.

Break it down for me

Federal income tax
$0
  State income tax
$0
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Want to cut it down by $1,249*?

That’s the actual average tax savings that Keeper users uncover from tax deductible expenses!

Find tax write-offs
Estimate tax saving

Cut your tax bill down by $1,249 per year on average

  • Scan your expenses for tax write-offs

  • Import write-offs to your tax return

  • File taxes in <1 hr, expert review included for free

FAQ

Can I take the standard deduction and still write off business expenses?
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Yes! A lot of freelancers and independent contractors don’t realize it’s possible to write off business expenses and claim the standard deduction. But you absolutely can.

How much can I make and not file taxes?
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For freelancers, side hustlers, and other self-employed people, the answer is $400 in self-employment income. That’s after you subtract your write-offs. People who only have W-2 income, though, don’t have to file taxes unless they’re making at least the standard deduction. Sometimes, though, you should file your taxes even if you’re not required to. You can get a refund back!

What happens if I don’t file taxes?
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You won’t go to jail — unless you evaded taxes on purpose and your tax bill is really high. The most common consequence is having to pay a penalty, up to 25% of what you owe. Depending on how behind you are, you might have to deal with other inconveniences, like being forced to paper file and losing out on your refund.

Can I file my own business taxes?
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If you’re a typical freelancer, gig worker, or sole proprietor, absolutely. A good tax software will make it simple to DIY, and you can even do it by hand. If your business is a corporation, though, you should probably hire an accountant.