Hi queen driver, Many newly self-employed people are surprised at their tax bills at the end of the year because they notice they're suddenly paying a lot more in tax as a self-employed person than as an employee. That's because they're carrying the full burden of paying for their Social Security and Medicare.
Here is a great resource with an example of calculating your self employment taxes,
Also be sure to keep track of all your business expenses, as that will lower your business profit, and lower your taxable income.
I hope you find this helpful!
**Mark the post that answers your question by clicking on "Mark as Best Answer"