1099 Tax Calculator

About this calculator

US independent contractors who receive 1099 income don't have taxes withheld the way W-2 employees do, so they owe both the standard federal income tax on their earnings and self-employment tax — 15.3%, covering the employer and employee shares of Social Security and Medicare — calculated on 92.35% of net self-employment earnings after business expenses are deducted. Missing this second layer is one of the most common tax mistakes new freelancers make, since it applies on top of, not instead of, regular income tax.

This calculator takes your 1099 income, business expenses, and estimated tax bracket, and returns how much of your net earnings you should set aside to cover both the self-employment tax and the income tax portion. Freelancers, gig workers, and independent contractors managing quarterly estimated tax payments, along with accountants advising new self-employed clients use it to avoid an underpayment surprise when tax season arrives.