Updated for the 2026 tax year

Practical financial guidance for U.S. freelancers and the self‑employed

Taxes, retirement accounts and health coverage, explained for people without a traditional employer.

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How much could you put away this year?

Your age at the end of 2026
Maximum SEP IRA and Solo 401(k) contributions at your profitSEP IRA$15,799Solo 401(k)$40,299$72,000 cap
$24,500
See the full comparison

more with a Solo 401(k) than a SEP IRA. Self-employment tax: $12,010.

Estimate for a sole proprietor with no 401(k) deferrals at another job. 2026 limits: $24,500 deferral, $72,000 total, $8,000 catch-up at 50+ ($11,250 at 60–63), $184,500 Social Security wage base.

$24,500401(k) employee deferral$72,000Solo 401(k) / SEP total cap$7,500IRA contribution limitJan 15, 2027Next estimated tax payment

Sources: IR-2025-111, Notice 2025-67, 2026 Form 1040-ES, SSA 2026 wage base.

  • Every figure checkedagainst IRS sources

  • Updated for 2026limits, rates and deadlines

  • 54 in-depth guideswith worked examples

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Retirement Planning

Solo 401(k), SEP IRA, Traditional and Roth IRA, and other retirement options for the self-employed.

18 guides →

Taxes

Self-employment tax, quarterly estimated payments, deductions, and filing basics.

31 guides →

Health & Insurance

Health insurance, HSAs, and coverage options outside of an employer plan.

5 guides →

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Latest guides

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Taxes

Do Freelancers Need an EIN? When You Need One

A sole proprietor without employees or a retirement plan usually doesn't need an EIN. When you do, how to get one free from the IRS, and what to put on a W-9.

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Taxes

Etsy, eBay and Amazon Seller Taxes: A $62,000 1099-K Isn't Profit

Online sellers pay tax on profit after returns, cost of goods sold and fees. How inventory works on Schedule C, with a full worked example.

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Taxes

Freelance Writer, Designer and Developer Taxes, With Real Numbers

Taxes for freelance writers, designers and developers: when income counts, unpaid invoices, deductions, the SSTB question and three worked examples.

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Taxes

Locum Tenens, 1099 Nurse and Consultant Taxes: Tax Home and Travel

Tax rules for 1099 nurses, locum tenens and consultants: tax home, the 1-year rule, deductible travel and lodging, QBI as an SSTB, and when an S corp fits.

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Taxes

Real Estate Agent Taxes in 2026: Closings, Deductions and QBI

How real estate agents are taxed: self-employed status, when a closing counts, what you can deduct, driving, gifts and licensing costs, and the QBI deduction.

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Retirement Planning

Retirement Plans for the Self-Employed: The Complete 2026 Guide

Solo 401(k), SEP IRA, SIMPLE IRA, IRA or a defined benefit plan: 2026 limits, who each one fits, and how to choose, with links to every detailed guide.

8 min readRead →

New here?

Start here

  1. 01Quarterly Estimated Taxes 2026: Your Payment in 6 StepsThe 2026 Form 1040-ES worksheet step by step, from net profit to the amount you pay each quarter, with a worked example for an $80,000 freelancer.
  2. 02Self-Employment Tax: Why It Isn't 15.3% of All Your ProfitSelf-employment tax is 15.3%, but not of your full profit. How the 92.35% base, the 2026 Social Security wage base and the half-of-SE-tax deduction work, with worked examples.
  3. 03Solo 401(k) vs. SEP IRA: $24,500 More Room at $100K ProfitA side-by-side comparison of the two main self-employed retirement plans: 2026 limits, deadlines, paperwork, Roth options, and how much each lets you contribute at six income levels.

Written by Manel Vadillo

I'm a self-employed web developer, not a CPA or financial advisor. I write plain-English guides built on IRS publications and link every source. About Veran Finance

Everything on Veran Finance is general information for self-employed people in the U.S., not financial, tax or legal advice. Read the full disclaimer.