Last updated: July 2026
Every tool on FreelanceGiant is a planning aid. Each performs arithmetic on figures you supply, or assembles a document from them. Nothing on this site constitutes tax, legal, accounting or financial advice, and no client, advisory or fiduciary relationship is created by using it.
These tools are built for US-based sole proprietors filing a Schedule C. If you operate through an S-corporation, a partnership, or a company with employees and payroll, the tax calculations here do not describe your situation.
The self-employment tax calculator and the deductions calculator currently use figures for US federal tax year 2026. Tax figures change annually, and legislation can change them mid-year — as the standard mileage rate did in 2026. Each tool shows its sources and the date its figures were last checked. If that year is not the year you are planning for, the results will be wrong.
Because of these omissions, your real tax position may be materially different from the estimate shown. Confirm with a qualified tax professional or against the current IRS Form 1040-ES before making payments.
The deductions calculator has no way to judge whether an expense is genuinely ordinary and necessary for your business, whether a home office is used regularly and exclusively, or whether the business-use percentage you entered is realistic. It totals what you tell it. Claiming a deduction you cannot substantiate is your risk. Keep records — receipts, invoices, bank statements, a mileage log — capable of supporting every figure.
The late payment chaser will compute a late fee from whatever rate you type in, regardless of whether you are entitled to charge it.
In the United States, a late fee on a private commercial invoice is generally a contractual right. It is enforceable because the client agreed to it in advance — in a signed contract, in your standard terms, or in payment terms stated on the invoice before the work was performed. Applying a fee retrospectively to an invoice that never mentioned one is not something you can unilaterally impose. The tool cannot know what your contract says.
Many states also impose usury limits or specific caps on late fees and interest, and the rules can differ depending on whether your client is a business or a consumer. A rate above the applicable cap may be unenforceable. This site does not check any of that.
The generated chase emails are general-purpose drafts, not tailored to your contract or jurisdiction. Read every message before sending it. The final-notice template refers to steps such as instructing a collections agency or filing in small claims court — do not send a message stating an intention you are not prepared to act on. Note also that different rules, including the federal Fair Debt Collection Practices Act, may apply if you are a third-party collector rather than the original creditor.
The invoice generator produces a standard, professional invoice layout. Invoicing requirements — mandatory fields, tax or VAT registration numbers, sequential numbering rules — vary by country and business type. Confirm your own requirements with a qualified accountant before relying on it for tax filings.
The hourly rate calculator produces a floor, not a market price. It tells you what you need to charge to cover your own costs and targets; it cannot tell you what your market will pay, what your work is worth, or whether a given client will accept it.
You are solely responsible for the accuracy of the figures you enter, for the tax positions you take, for the deductions you claim, for the content of any message you send, for any fee you choose to charge, and for meeting your own filing, record-keeping and payment obligations.
FreelanceGiant and its operators accept no liability for any tax, penalty, interest, loss, damage, cost, claim or dispute arising from use of these tools or reliance on their output.
Email hello@freelancegiant.com. We correct errors in the tools promptly, but we cannot advise on your individual tax, legal or financial situation.