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Self-Employment & 1099 Tax Calculator

Nobody's withholding your taxes. See your real SE tax, income tax, and exactly how much to set aside from every payment — plus your quarterly amounts.

Your Income

1099 / Schedule C net profit

revenue minus business expenses Filing status I also have a W-2 job

Business Deductions

Business miles driven

$0.725/mile (2026) Home office (simplified) Health insurance premiums

SEP / solo 401(k) contribution

up to 25% of net SE income Other business expenses

Prior Year (for quarterly safe harbor)

Last year's total tax

optional — drives the safe-harbor estimate Last year's AGI

over $150K raises safe harbor to 110%

Set aside this much

20% of every payment

≈ $12,000 a year · $1,000 a month

Effective tax rate: 19.3%

Self-employment tax — what your W-2 didn't withhold

$60,000 net profit × 92.35% = $55,410 SE base, then:

Social Security (12.4%)$6,870.84

Medicare (2.9%)$1,606.89

Total SE tax$8,477.73

SE tax covers the employer + employee halves of Social Security & Medicare that a W-2 employer would normally split with you.

Total tax owed

Federal income tax$3,081

Self-employment tax$8,478

Total liability$11,559

Quarterly payments

Pay $2,601 each quarter to stay safe-harbor compliant.

Q1 Apr 15

Q2 Jun 15

Q3 Sep 15

Q4 Jan 15

How we got there

Net profit after deductions$60,000

QBI deduction (20%)-$12,000

½ SE tax deduction-$4,239

Standard deduction-$16,100

Taxable income$27,661

Estimate only — not tax advice. 2026 SE figures; federal brackets match our Paycheck Calculator. State tax and the full QBI/income limits aren't modeled. Confirm with a tax pro or IRS Form 1040-ES.

How Self-Employment Tax Works

The 15.3% hit. On 92.35% of your net profit you pay 12.4% toward Social Security and 2.9% toward Medicare — both halves, since there's no employer. Above the wage base only Medicare continues, and a 0.9% surcharge kicks in past $200K (single) or $250K (joint).

Then income tax. You deduct half your SE tax, the 20% QBI deduction, and your standard deduction from your income, and the 2026 brackets run on what's left. The calculator stacks SE tax and income tax into your total liability.

Set aside & pay quarterly. Your total liability divided by income is the percentage to set aside from every payment. The quarterly card uses the IRS safe-harbor rule so you dodge the underpayment penalty.

Key Terms at a Glance

SE tax	The 15.3% Social Security + Medicare you pay on self-employment income.
92.35%	The share of net earnings actually subject to SE tax (the IRS's own adjustment).
QBI deduction	A 20% write-off of qualified business income that lowers your taxable income.
Safe harbor	Paying 90% of this year or 100–110% of last year's tax to avoid the penalty.

Frequently Asked Questions

What is self-employment tax?

It's the 15.3% that covers Social Security (12.4%) and Medicare (2.9%). A W-2 employee pays half and their employer pays half; as a 1099 contractor you pay both halves — but only on 92.35% of your net earnings, and you deduct the employer-equivalent half from your income tax.

Why does my tax bill feel bigger than at my W-2 job?

Nobody withholds tax from a 1099 payment, so the full SE tax plus your income tax lands at once. That's why the most useful number here is the set-aside percentage — put that fraction of every payment away and April stops being scary.

How much should I set aside for taxes?

The common rule of thumb is 25–30% of self-employment income. This calculator computes your actual rate from your income, deductions, filing status, and the 2026 brackets, then shows it as a percentage and a monthly dollar amount.

What is the QBI deduction?

The Qualified Business Income deduction lets most sole proprietors deduct 20% of net business income from their taxable income — a big reason a 1099 earner often pays less income tax than a W-2 earner with the same gross. It's applied after your SE-tax deduction and standard deduction here.

When are quarterly taxes due?

April 15, June 15, September 15, and January 15 of the following year. The calculator estimates each payment using the IRS safe-harbor rule — 90% of this year, or 100% (110% if your prior AGI exceeded $150K) of last year's tax.

I have both a W-2 and 1099 income — how is that handled?

Your W-2 wages fill up the Social Security wage base first. Once your W-2 already maxed it out, your 1099 income isn't hit with the 12.4% Social Security portion again — only the 2.9% Medicare still applies. Turn on "I also have a W-2 job" to model this.

Available on Google Play

Track every payment and multi-state work

The Self-Employment Tax Calculator app adds per-payment set-aside reminders, toggleable deduction cards, multi-state income allocation, and PDF export — all on your device.

Download on Google Play