Free 1099 tax calculator
Estimate your 1099 self-employment taxes.
Enter your contractor income, business expenses, and filing status. We'll estimate self-employment tax, federal income tax, state tax, and quarterly payments — with a plain-English breakdown of every line.
2024 tax year
SE tax + income tax
Quarterly estimate
Gross receipts from all 1099-NEC / 1099-K sources.
Deductible costs: supplies, software, mileage, home office.
From a day job. Used to cap Social Security tax.
Interest, dividends, spouse income (if joint).
Solo 401(k) / SEP-IRA. Reduces taxable income.
5%
0% for TX / FL / WA / NV / TN / SD / WY / AK. ~5% national average. ~13% for CA top bracket.
Estimated 2024 tax bill
$18,394total owed
Effective rate 23.9% · marginal bracket 12%
Quarterly payment
$4,599
Take-home
$58,606
Self-employment tax
$10,880
Federal income tax
$5,236
State income tax
$2,278
QBI deduction
$11,392
Gross 1099 income$85,000
Less: business expenses-$8,000
Net self-employment income$77,000
Less: ½ SE tax deduction-$5,440
Adjusted gross income (AGI)$71,560
Less: standard deduction (single)-$14,600
Less: QBI (20% pass-through)-$11,392
Taxable income$45,568
How we calculated your estimate
1
Net self-employment income
Gross 1099 income ($85,000) minus deductible business expenses ($8,000) equals $77,000 of net profit that flows to Schedule C.
2
Self-employment tax (15.3%)
As a 1099 contractor you pay both halves of Social Security (12.4%) and Medicare (2.9%). Applied to 92.35% of net profit ($71,110), that's $10,880.
3
½ SE tax deduction
The IRS lets you deduct the employer half ($5,440) when computing income tax — a small win that reduces your AGI to $71,560.
4
QBI 20% deduction
The Qualified Business Income deduction shaves another $11,392 off taxable income — one of the biggest perks for pass-through self-employed filers.
5
Federal income tax (progressive)
Your single taxable income of $45,568 runs through 2024 brackets to produce $5,236. Marginal bracket: 12%.
6
State income tax
At your 5% state rate on taxable income, that adds $2,278.
7
Quarterly estimated payments
The IRS wants roughly 25% of your annual bill — $4,599 — on April 15, June 15, September 15, and January 15. Missing them triggers underpayment penalties.
Ways to lower this bill
- Track every business expense — mileage, home office, software, phone. Each $1,000 of expenses saves ~$300–$400 in combined tax.
- Open a Solo 401(k) or SEP-IRA. You can shelter up to $69,000/yr and reduce AGI dollar-for-dollar.
- Consider an S-corp election above ~$60k net profit to split income between salary and distributions and cut SE tax.
- Deduct health insurance premiums if you're not eligible for a spouse's plan.
- Pay quarterlies on time — the underpayment penalty is currently ~8% APR.
Estimate only — not tax advice
This calculator uses 2024 federal brackets, a flat state rate, and the simplified QBI formula. Real returns can vary based on credits, itemized deductions, AMT, phase-outs, and local taxes. Ledgerly automates the tracking; a licensed CPA files the return.