Estimate self-employment tax, federal income tax, quarterly payments, and take-home pay from freelance, contractor, or small business income.
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Uses 2026 federal estimate settings
Estimated result
Tax set-aside
Quarterly payment estimate$0
Annual set-aside
$0
Monthly set-aside
$0
Estimated take-home
$0
Tax breakdown
Net self-employment profit
$0
Self-employment tax
$0
Deductible half of SE tax
$0
Taxable income after standard deduction
$0
Federal income tax
$0
State reserve
$0
Estimate only. This is not tax, legal, or financial advice. Confirm your situation with IRS forms or a qualified tax professional.
How 1099 taxes are estimated
Independent contractors usually estimate taxes from net profit, which is 1099 income minus ordinary business expenses. This calculator estimates self-employment tax first, subtracts the deductible half of that tax when estimating adjusted income, applies the standard deduction, and then applies 2026 federal tax brackets.
It also lets you subtract federal withholding or estimated payments already made, then adds an optional state tax reserve percentage so you can see a practical savings target.
What is self-employment tax?
Self-employment tax covers Social Security and Medicare taxes for people who work for themselves. For 2026 estimates, this calculator applies the IRS worksheet approach: 92.35% of net profit is treated as net earnings from self-employment, Medicare tax applies to those earnings, and Social Security tax applies up to the 2026 wage base.
How much should freelancers set aside for taxes?
The right percentage depends on income, expenses, filing status, credits, deductions, and state taxes. A common starting point is to reserve a meaningful share of net profit, then adjust as your income becomes clearer. This tool converts the annual estimate into monthly and quarterly amounts so the savings target is easier to act on.
When are quarterly estimated taxes due?
Calendar-year taxpayers generally make estimated tax payments during the year instead of waiting until filing season. IRS Form 1040-ES provides the current payment vouchers and instructions. If a due date falls on a weekend or legal holiday, the payment is generally due on the next business day.
1099 tax calculator FAQ
Does this calculator file my taxes?
No. It is only an estimate for planning cash flow. Use official IRS forms, tax software, or a tax professional to prepare and file a return.
Does it include state income tax?
It includes only a user-entered state reserve percentage. It does not model state-specific brackets, local taxes, credits, or deductions.
Why does W-2 income matter?
W-2 wages can use part or all of the annual Social Security wage base. Entering W-2 wages helps avoid overestimating the Social Security portion of self-employment tax.