Career & Income Calculators
Self-Employment Tax Estimator
Estimate self-employment tax, income tax set-asides, quarterly payments, and take-home income for freelance, contractor, creator, side hustle, or 1099 income.
Self-employment income can feel bigger before taxes, business expenses, and quarterly payments. This estimator helps you model gross income, deductible expenses, self-employment tax, optional federal and state income tax set-asides, retirement contributions, health insurance, and estimated quarterly tax payments.
Educational estimate only. This calculator is not tax, legal, accounting, financial, business, payroll, or professional advice.
This is a planning estimator for set-asides. It does not determine deductions, eligibility, safe-harbor rules, or filing outcomes.
Jump to resultsIncome
This estimator focuses on self-employment income. Other household income can change actual tax rates and eligibility for deductions or credits.
Used to estimate how much of the Social Security wage base may already be used.
Optional. Used only for rough income tax set-aside estimates.
Business expenses
Enter expenses you believe are business-related. This calculator does not determine whether an expense is deductible.
Examples: bookkeeping, tax prep, legal, consulting.
Self-employment tax assumptions
Defaults use 12.4% Social Security plus 2.9% Medicare on 92.35% of net earnings.
Default uses 12.4% Social Security plus 2.9% Medicare.
Common self-employment tax calculation uses 92.35% of net earnings.
Income tax set-aside assumptions
Federal income tax is a rough set-aside estimate, not a full tax return calculation.
A simple planning percentage applied to taxable business profit after selected adjustments.
State and local tax assumptions
State and local taxes vary widely. Use your own estimate or set to 0.
Retirement, health insurance, and savings
These are simplified planning assumptions and may not match tax eligibility.
This is a simplified planning assumption and may not match tax eligibility.
Used as a simple cash set-aside comparison against the detailed estimate.
Quarterly payments
This calculator estimates set-asides. It does not determine required estimated payments, safe harbor eligibility, or filing deadlines.
Scenario presets
Use a preset to quickly test a common self-employment situation, then adjust any input.
Frequently asked questions
What is self-employment tax?+
Self-employment tax is a planning term for Social Security and Medicare taxes on net self-employment earnings. This estimator uses simplified assumptions.
How is self-employment tax different from income tax?+
Self-employment tax covers Social Security and Medicare. Income tax is separate and depends on taxable income, filing status, deductions, credits, and other details.
How much should I set aside for 1099 taxes?+
The right set-aside depends on your income, expenses, filing situation, state taxes, and other income. This calculator estimates a reserve based on your inputs.
Does this calculator include business expenses?+
Yes. Enter business expenses to estimate net profit. The calculator does not determine whether a specific expense is deductible.
Does this calculator include state taxes?+
It can include a state and local tax set-aside percentage that you enter. It does not calculate exact state rules.
Does this calculator calculate quarterly estimated tax payments?+
It estimates quarterly payments from the annual set-aside, prior payments entered, and quarters remaining. It does not determine required payments or safe-harbor eligibility.
Does this calculator determine deductions or QBI eligibility?+
No. Optional deductions and QBI are simplified user-entered assumptions only. Consult a qualified tax professional for filing decisions.
Is this tax advice?+
No. This is an educational planning estimator based on user-entered assumptions and is not tax, legal, accounting, payroll, business, or financial advice.