1099 Tax Calculator
Estimate federal income tax and self-employment tax on 1099 contractor income. Includes SE tax deduction and quarterly estimate breakdown.
This calculator provides estimates for planning purposes only using 2024 federal tax rates for single filers. State taxes, credits, and deductions are not included. Consult a CPA for your actual tax liability.
Calculator
Results update as you type
Formula
The math behind the result
SE tax = net income × 92.35% × 15.3%
Taxable income = gross − (½ SE tax) − deductions − standard deduction
Federal tax = sum of progressive bracket rates on taxable income
How it works
A clean flow from input to answer
- 1Enter your total gross 1099 income for the year.
- 2Add any business deductions (home office, equipment, health insurance, retirement contributions).
- 3The calculator applies self-employment tax (15.3%), the SE deduction, and 2024 federal income tax brackets to estimate your total tax, effective rate, quarterly payments, and take-home pay.
FAQ
Common questions
What is 1099 income?
1099 income is money you earn as an independent contractor or freelancer, reported on IRS Form 1099-NEC. Unlike W-2 employees, no tax is withheld — you pay quarterly estimated taxes yourself.
What is self-employment (SE) tax?
SE tax is 15.3% (12.4% Social Security + 2.9% Medicare) on 92.35% of your net self-employment income. W-2 employees pay half this because their employer pays the other half — you pay both as a 1099 worker.
When are quarterly estimated taxes due?
For 2024 income: April 15, June 17, September 16, and January 15, 2025. Missing a quarterly payment can result in an underpayment penalty from the IRS.
Can I deduct business expenses from 1099 income?
Yes. As a 1099 contractor you can deduct legitimate business expenses — home office, equipment, software, mileage, health insurance premiums, and retirement contributions (SEP-IRA, Solo 401k) — before calculating your taxable income.
What percentage of my 1099 income should I save for taxes?
A safe rule of thumb is to set aside 25–35% of every payment for federal taxes. Use this calculator with your specific income to get a more precise number, then add your state income tax rate.