Thrivelance Tools
Estimate taxes on your 1099 income as an independent contractor or freelancer. Enter what your 1099s add up to, subtract business expenses, and see self-employment tax, federal income tax, your total bill, and the quarterly estimated payments to plan for. Uses 2025 tax-year rates.
Figures update as you type. Add up every 1099 you expect for the year — the calculator subtracts expenses for you.
Self-employment tax
$10,597.16
15.3% on 92.35% of profit.
Est. federal income tax
$6,948.31
After the standard deduction.
Total estimated tax
$17,545.47
SE tax + income tax.
Set aside each quarter
$4,386.37
Total ÷ 4 estimated payments.
1099 income comes with two federal taxes: self-employment tax (15.3% for Social Security and Medicare, on 92.35% of net profit) and ordinary income tax at your bracket rate. Because no client withholds anything, you pay both yourself — usually through quarterly estimated payments.
Add every form together: 1099-NEC from clients, 1099-K from payment platforms, 1099-MISC for other income. Income you earned without receiving a form is still taxable — the form thresholds only control what gets reported to the IRS, not what you owe.
You're taxed on net profit, not the number printed on the 1099. Software, equipment, a home office, mileage, and contractor fees all reduce taxable profit on Schedule C. Then plan the payments with the Quarterly Tax Calculator or bank a slice of each invoice with the Tax Set-Aside Calculator.
This is a federal estimate using the standard deduction. It excludes state income tax, tax credits, the QBI deduction, and W-2 income. Already know your net profit? The Self-Employment Tax Calculator starts there, and the 1099 vs W-2 Calculator compares contracting against a salary.
Common questions about this calculator.
Plan on 20–30% of net profit for most earners. You pay 15.3% self-employment tax on 92.35% of profit, plus federal income tax at your bracket rate. The calculator combines both and shows your exact effective rate.
The common rule of thumb is 25–30% of every payment. Your effective rate above is a more precise target — move that share of each invoice into a separate tax account and quarterly payments stop hurting.
Yes. Add all your forms together — 1099-NEC from clients, 1099-K from payment apps and marketplaces, 1099-MISC for other income — and enter the total. Tax is the same regardless of which form reported the income.
Yes. The $600 figure is only the threshold at which a client must send a 1099-NEC — all self-employment income is taxable, and the IRS requires a return once net self-employment earnings reach just $400.
Both: you enter the gross 1099 total, then business expenses, and tax is computed on the difference (your Schedule C net profit). Deductions like software, equipment, and mileage directly lower the bill.
