Freelancer Income Tax Calculator
We have created a simple Freelancer Income Tax Calculator that you can use to compute your Annual Income Tax using the 8% Income Tax Rate option. This is useful for your budgeting. Please note that we file our taxes on a quarterly basis. Don’t worry if your tax due is high as it is for the whole year.
You may divide it by four for budgeting purposes but the actual computation of the tax is as long as your income has not yet exceeded the P250,000 Non-Taxable Income, you don’t have a tax yet. Meaning there are instances that you don’t have a tax due on your First Quarter ITR filing and your first tax due will be on 2nd Quarter onwards. The Freelancer Income Tax Calculator for Mixed-Income Earner Freelancers is also included.
Frequently Asked Questions
Is this only for Freelancers who use the 8% Income Tax Rate Option?
Yes! This calculator is only for the 8% income tax rate option.
I'm using the Graduated Income Tax Rate Option can I use this Calculator?
What you can do is use this tool to calculate your tax if you want to see your tax due using the 8% income tax rate option. Meaning this tool can be used for tax planning. But you have to calculate separately your income tax due using the Graduated Income Tax Rate.
I'm a Mixed-Income Earner Freelancer can I use this calculator?
Yes. We include a computation for mixed-income earners and important notes on how to know if you’re a mixed-income earner freelancer.
I want to avail your Stress- Free Freelancers BIR Registration, what is the first step?
The first step is to book your Free Tax Consultation Call.
The call is important so that we will know more about your freelancing business and provide the best advice and assistance.