1099 Tax Calculator
Calculate taxes owed on 1099 income including self-employment tax and estimated quarterly payments
About this calculator
The 1099 Tax Calculator helps freelancers, contractors, and self-employed individuals estimate their tax obligations on 1099 income. This tool calculates both regular income tax and self-employment tax (Social Security and Medicare taxes), providing a comprehensive view of your tax liability. It also determines suggested quarterly estimated tax payments to help you avoid penalties and manage cash flow throughout the year.
How to use
Enter your total 1099 income for the year, select your filing status, and input any applicable deductions. The calculator will compute your estimated income tax, self-employment tax, and total tax owed. It will also suggest quarterly payment amounts to help you stay current with the IRS.
Frequently asked questions
What is self-employment tax rate?
Self-employment tax is 15.3% of net earnings, covering Social Security (12.4%) and Medicare (2.9%) taxes that employers typically pay.
When are quarterly payments due?
Quarterly estimated tax payments are due January 15, April 15, June 15, and September 15 for the previous quarter's earnings.
Can I deduct business expenses?
Yes, legitimate business expenses reduce your taxable 1099 income, lowering both income tax and self-employment tax obligations.