Self-Employment Tax Calculator

Income Profile

1099 Income
$

* Include all freelance and 1099 contract earnings.

Look up rates
%

* Average state income tax rate for your tax bracket.

Deductions

$0

* Deduct only ordinary and necessary business expenses.

Estimated Total Tax

$0

0% Effective Rate

True Net Income

$0

What you actually keep.

$0 / mo
$0 / wk

Quarterly Estimates

Next Payment
Due Date
Apr 15
in 45 days
Est. Payment
$0
Based on 100% of current year liability.
Apr 15
Q1
Jun 15
Q2
Sep 15
Q3
Jan 15
Q4

Tax Breakdown

Self-Employment Tax $0
Federal Income Tax $0
State Income Tax $0
Total Deductions $0

Understanding Self-Employment Taxes and Deductions

As an independent contractor or freelancer, navigating taxes is entirely your responsibility. Unlike W-2 employees where the employer pays half of the Medicare and Social Security taxes, you are responsible for the full 15.3% Self-Employment Tax, on top of Federal and State income taxes.

Maximizing Deductions

The key to minimizing your 1099 tax burden is tracking deductions. Our calculator allows you to input standard business expenses such as home office costs, internet bills, hardware, and travel. Every dollar deducted directly reduces your taxable business income, translating to significant savings.

Quarterly Estimated Payments

The IRS requires self-employed individuals to pay estimated taxes quarterly (April 15, June 15, Sept 15, and Jan 15). Failing to do so can result in underpayment penalties. Our tool automatically divides your predicted annual liability so you know exactly what to set aside each month.

Frequently Asked Questions

What is the self-employment tax rate?

The standard rate is 15.3%, consisting of 12.4% for Social Security and 2.9% for Medicare.

Can I deduct personal expenses?

No, you can only deduct expenses that are "ordinary and necessary" for your specific trade or business.