1099 Self-Employment Tax Calculator

Calculate your 1099 self-employment tax, estimated quarterly payments, and total tax liability. For freelancers, contractors, gig workers, and sole proprietors.

2024 Tax Year | Updated with current IRS rates

Self-Employment Income

$

Total income before expenses

$

Deductible business expenses

Net Self-Employment Income$0

Filing Status

Other Income (Optional)

$

Employment income (taxes already withheld)

$

Tax Summary

Self-Employment Tax$0

15.3% on 92.35% of net SE income (Social Security 12.4% + Medicare 2.9%)

Federal Income Tax$0

Based on Single brackets after deductions

Total Tax Liability$0
Amount Still Owed$0

Quarterly Estimated Payments

To avoid penalties, pay estimated taxes quarterly:

Q1: April 15

Jan 1 - Mar 31

$0
Q2: June 15

Apr 1 - May 31

$0
Q3: September 15

Jun 1 - Aug 31

$0
Q4: January 15

Sep 1 - Dec 31

$0

Note: Pay via IRS Direct Pay or Form 1040-ES. Missing payments may result in underpayment penalties.

Tax Rates

Effective Tax Rate0.0%
SE Tax Rate (effective)0.0%
Marginal Tax Bracket10%

Deductions Applied

  • Half of SE tax deducted: $0
  • Standard deduction (Single): $14,600

Self-Employment Tax Guide

How Self-Employment Tax Works

When you're self-employed, you pay both the employer and employee portions of Social Security and Medicare taxes. This is called self-employment tax (SE tax).

The SE Tax Calculation

  1. Start with net self-employment income (gross - expenses)
  2. Multiply by 92.35% (this is the taxable SE base)
  3. Apply 15.3% SE tax rate (12.4% Social Security + 2.9% Medicare)
  4. Deduct half of SE tax from income for federal income tax

Social Security (12.4%)

Applies to income up to $168,600 (2024). If you have W-2 income, the cap is shared.

Medicare (2.9%)

No income cap. Additional 0.9% applies to income over $200K (single) or $250K (married).

Quarterly Payment Due Dates

Q1

April 15

Q2

June 15

Q3

Sept 15

Q4

Jan 15

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