1099 Tax Calculator
Estimate the federal tax on your 1099 contractor income in seconds. Estimates 2024 US federal self-employment + income tax for 1099 contractors, not tax advice.
Calculator by Toolsloft ↗- Self-employment tax
- $14,129.55
- Income tax
- $12,286.75
- Total tax
- $26,416.30
- Effective rate
- 26.42%
Estimate the federal tax bill on your 1099 contractor income from a single number: your net profit after business expenses. It is built for freelancers and independent contractors who need to size up self-employment tax plus income tax before setting aside money or making a quarterly payment.
How this is calculated
It applies 2024 US federal rules: self-employment tax at 15.3% on 92.35% of net profit, then federal income tax on taxable income after the half-SE deduction and the 2024 standard deduction for your filing status.
How to use
- Enter your net profit (income after business expenses).
- Choose your filing status.
- Read your self-employment tax, income tax, total tax, and effective rate.
Examples
- $100k single:
net profit 100000 → total tax 26416.30, effective 26.42% - $100k married:
net profit 100000, married → lower income tax
FAQ
- What does this calculator include?
- It combines self-employment tax (Social Security + Medicare, 15.3% on 92.35% of net profit) with federal income tax on your taxable income.
- Why is my income tax lower than expected?
- You can deduct half of your self-employment tax before income tax is calculated, along with the standard deduction. We apply the half-SE deduction automatically.
- Is this tax advice?
- No. These are estimates using 2024 US federal rules only, state and local taxes are not included. This is not tax advice; consult a professional.