Estimate your combined Virginia state (5.75%) and federal self-employment tax as a freelancer or 1099 contractor. Plan to set aside roughly 30-35% of net income.
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Get Matched with a CPA →Virginia has a progressive income tax with rates from 2% to 5.75%. The top rate kicks in at just $17,001 of taxable income, meaning most freelancers with meaningful income pay close to the 5.75% rate. Virginia also allows a deduction for the first $1,500 of military retirement income and has various credits for education expenses.
Virginia freelancers should factor in the 5.75% state income tax when planning their tax payments. This is in addition to the 15.3% federal self-employment tax and federal income tax based on your bracket.
All self-employed individuals in Virginia must make quarterly estimated tax payments to the IRS if they expect to owe $1,000 or more. Virginia may also require separate state estimated tax payments — check with a local CPA. Our calculator above gives you the exact quarterly amounts based on your income.
Based on the 5.75% state rate in Virginia, we recommend setting aside approximately 30-35% of your net self-employment income for taxes. This covers federal income tax, self-employment tax (15.3%), and Virginia state income tax.
The exact percentage varies based on your total income, filing status, and deductions. Use the calculator above for a personalized estimate, then set up automatic transfers to a dedicated tax savings account each time you receive a payment.
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