1099 Tax Calculator
Estimate taxes on 1099 income: self-employment tax (Social Security + Medicare) plus federal income tax, with suggested quarterly payments.
$52,000 of 1099 net profit (single) owes about $10,966.52 total: SE tax + income tax.
How to Use This Calculator
- Enter your total 1099 income for the year.
- Subtract business expenses (equipment, software, mileage, home office).
- Choose your filing status.
- See your SE tax, income tax and suggested quarterly payments.
The Formula
Net profit = 1099 income − business expenses. Self-employment tax = 92.35% of net profit × 15.3% (12.4% Social Security up to the wage base + 2.9% Medicare). Federal income tax applies on profit minus the deductible half of SE tax minus the standard deduction.
Net profit1099 income − expensesSE tax92.35% × 15.3%QuarterlyTotal tax ÷ 4 (Form 1040-ES)Worked Example
With $60,000 of 1099 income and $8,000 of expenses, net profit is $52,000. Self-employment tax is about $7,347.37 and federal income tax brings the total to about $10,966.52 — set aside roughly $913.88 per month.
Quick Tips
- The deductible half of self-employment tax reduces your income tax — our estimate accounts for it.
- Quarterly estimated payments are due Apr 15, Jun 15, Sep 15 and Jan 15.
- Keep receipts for every deduction you claim.
Frequently Asked Questions
How much should I set aside for 1099 taxes?
A common rule is 25–30% of net profit. Our calculator gives a precise estimate: SE tax plus income tax.
Do I pay both income tax and self-employment tax?
Yes. 1099 workers pay income tax (like everyone) plus the full 15.3% SE tax (employer + employee share).
What is the 92.35% factor?
Schedule SE lets you exclude the employer-equivalent half of SE tax from the base, effectively taxing 92.35% of net profit.