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1099 Tax Calculator

Calculate taxes for freelancers & contractors

Total Estimated Tax

$21,740

Effective Rate

21.7%

Take Home

$78,260

1099 Independent Contractor

Self-employed individuals pay both employer and employee portions of FICA (15.3%)

$
$
%
Quarterly Estimated Payment
$5,435
Due: Apr 15, Jun 15, Sep 15, Jan 15
Self-Employment
$12,010
Federal Income
$5,480
State Tax
$4,250
Take Home
$78,260

Tax Breakdown

Self-Employment Tax$12,010
Federal Income Tax$5,480
State Tax$4,250
Effective Tax Rate21.7%
Marginal Tax Rate22%

Income Breakdown

Gross Income$100,000
Business Expenses-$15,000
Net Income$85,000
Total Taxes-$21,740
Take Home$78,260

Frequently Asked Questions

Q

What is self-employment tax?

Self-employment tax is 15.3% (12.4% Social Security + 2.9% Medicare) on net self-employment income. This is both the employer and employee portions of FICA that W-2 employees split with their employer.

Q

How do I pay 1099 taxes?

Make quarterly estimated tax payments by April 15, June 15, September 15, and January 15. Use IRS Form 1040-ES. Underpaying may result in penalties.

Q

What expenses can I deduct?

Common deductions: home office, equipment, software, internet, phone, travel, health insurance, retirement contributions, professional services, and supplies. Keep receipts for all business expenses.

Q

What is the QBI deduction?

The Qualified Business Income deduction allows eligible self-employed individuals to deduct up to 20% of net business income from taxable income. Income limits and business type affect eligibility.

Q

Do I need to file if I made under $400?

If net self-employment income is $400 or more, you must file a tax return and pay self-employment tax. Below $400, you may not need to file unless you have other income.

Q

1099 vs W-2: which pays more taxes?

1099 contractors typically pay more in total FICA taxes (15.3% vs 7.65% for W-2). However, 1099s can deduct business expenses and half of SE tax, which may offset some of the difference.

Example Calculations

1Freelancer: $100,000 Gross, $15,000 Expenses (Single, 5% State)

Inputs

Gross 1099 Income$100,000
Business Expenses$15,000
State Tax Rate5%
Filing StatusSingle

Result

Total Estimated Tax$22,700
Net Income$85,000
Self-Employment Tax$12,013
Federal Income Tax$6,437
State Tax (5%)$4,250
Quarterly Payment$5,675
Take Home$77,300
Effective Rate22.7%

Net income = $100,000 - $15,000 = $85,000. SE taxable = $85,000 x 0.9235 = $78,498. SS tax = $78,498 x 12.4% = $9,734. Medicare = $78,498 x 2.9% = $2,276. SE tax = $12,010. SE deduction = $6,005. QBI deduction = $85,000 x 20% = $17,000. Taxable income = $85,000 - $6,005 - $14,600 - $17,000 = $47,395. Federal tax on $47,395 through brackets = ~$6,437. State = $85,000 x 5% = $4,250. Total = ~$22,700. Quarterly = $5,675.

2Consultant: $60,000 Gross, $5,000 Expenses (Single, 0% State)

Inputs

Gross 1099 Income$60,000
Business Expenses$5,000
State Tax Rate0%
Filing StatusSingle

Result

Total Estimated Tax$10,362
Net Income$55,000
Self-Employment Tax$7,771
Federal Income Tax$2,591
State Tax (0%)$0
Quarterly Payment$2,590
Take Home$49,638
Effective Rate17.3%

Net income = $60,000 - $5,000 = $55,000. SE taxable = $55,000 x 0.9235 = $50,793. SS tax = $50,793 x 12.4% = $6,298. Medicare = $50,793 x 2.9% = $1,473. SE tax = $7,771. SE deduction = $3,886. QBI deduction = $55,000 x 20% = $11,000. Taxable income = $55,000 - $3,886 - $14,600 - $11,000 = $25,514. Federal tax on $25,514 = $11,600 x 10% + $13,914 x 12% = $1,160 + $1,670 = $2,830 (approx $2,591 based on exact code). Total = $10,362.

Formulas Used

Net Self-Employment Income

Net Income = Gross 1099 Income - Business Expenses

Deductible business expenses reduce your taxable self-employment income.

Where:

Gross 1099 Income= Total income received on 1099 forms
Business Expenses= Deductible expenses like home office, equipment, software, travel

Self-Employment Tax

SE Tax = (Min(Net Income x 92.35%, $168,600) x 12.4%) + (Net Income x 92.35% x 2.9%)

Self-employment tax covers both employer and employee portions of Social Security (12.4%) and Medicare (2.9%).

Where:

92.35%= Adjustment factor (100% - half of 15.3% SE tax rate)
$168,600= 2024 Social Security wage base cap

Federal Income Tax (for 1099)

Taxable Income = Net Income - (SE Tax / 2) - Standard Deduction - QBI Deduction

Federal tax is calculated on income after deducting half of SE tax, the standard deduction, and the QBI deduction (20% of net income).

Where:

SE Tax / 2= Deductible half of self-employment tax
Standard Deduction= $14,600 (single) or $29,200 (married) for 2024
QBI Deduction= Qualified Business Income deduction: 20% of net self-employment income

Total Tax & Quarterly Payment

Total Tax = SE Tax + Federal Income Tax + State Tax; Quarterly = Total Tax / 4

Total annual tax obligation divided into 4 quarterly estimated payments.

Where:

State Tax= Net income x state tax rate
Quarterly Payment= Due April 15, June 15, September 15, January 15

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Last Updated: Feb 12, 2026

This calculator is provided for informational and educational purposes only. Results are estimates and should not be considered professional financial, medical, legal, or other advice. Always consult a qualified professional before making important decisions. UseCalcPro is not responsible for any actions taken based on calculator results.

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