Self-Employment Tax Calculator
Calculate your quarterly tax payments as a freelancer, consultant, or self-employed professional. Get AI-powered optimization suggestions.
About Self-Employment Tax
Self-employed individuals pay tax through self-assessment. Unlike PAYE (employees), you calculate and pay your own tax quarterly based on net business income.
- ✓ Deduct legitimate business expenses from gross income
- ✓ Claim tax reliefs (pension, NHF, NHIS, life insurance)
- ✓ Pay tax in 4 quarterly installments
- ✓ File annual return with FIRS
Common Self-Employment Tax Questions
What expenses can I deduct?
You can deduct "wholly, exclusively, and necessarily" incurred business expenses such as: office rent, equipment, software, marketing, professional fees, travel, internet, phone, and more.
When are quarterly payments due?
Q1 (Jan-Mar): Due April 30 | Q2 (Apr-Jun): Due July 31 | Q3 (Jul-Sep): Due October 31 | Q4 (Oct-Dec): Due January 31
What if my income varies monthly?
Estimate annual income conservatively. Pay quarterly based on estimates. Reconcile at year-end. If you overpay, you'll get a refund. If you underpay, pay the balance by January 31.
Do I need to register with FIRS?
Yes! All self-employed individuals earning above ₦300,000 annually must obtain a TIN (Tax Identification Number) and file annual returns, even if no tax is due.
📚 Learn more: Read our comprehensive Self-Employment Tax Guide