Freelance Tax: US vs India
Whether you are a 1099 Contractor in New York or a Freelance Developer in Bangalore, taxes are your biggest expense. Our tool automatically adjusts based on your region selection.
Common Deductions to Lower Tax
- Home Office: Deduct a portion of rent/internet if you work from home.
- Equipment: Laptops, software subscriptions, and office furniture.
- Professional Fees: Domain hosting, legal fees, and accounting costs.
Frequently Asked Questions
How much tax should freelancers save?
Rule of thumb: 25-30% of Net Income. This covers Self-Employment/Social Security taxes AND Income Tax.
What is 44ADA (India)?
It is a presumptive taxation scheme for professionals (devs, designers) where you can declare 50% of your gross receipts as profit and pay tax only on that, without auditing expenses.
What is Self-Employment Tax (US)?
It is a 15.3% tax (Social Security + Medicare) that freelancers pay because they don't have an employer withholding standard FICA taxes.
Disclaimer: This tool is for educational purposes only and does not constitute professional financial advice. Results are estimates based on the information provided. Please consult a qualified financial advisor before making important financial decisions.