Self-employed or 1099? Enter your net income to see exactly how much to set aside for federal + self-employment tax.
Most self-employed and 1099 workers should set aside 25-30% of net income for taxes. This covers federal income tax plus the 15.3% self-employment tax (Social Security + Medicare). Higher earners or high-tax states should save closer to 35%. Use the calculator to get your exact percentage.
15.3% — that's 12.4% Social Security (on net earnings up to $176,100) plus 2.9% Medicare (no cap). You pay this on top of regular income tax. Half of SE tax is deductible above the line, which reduces your income tax.
Yes, if you expect to owe more than $1,000. Quarterly estimated tax deadlines for 2026 are April 15, June 15, September 15, and January 15, 2027. Missing them triggers an underpayment penalty (~8% APR).
Gig drivers should save about 25-30% of net earnings (after mileage deduction at $0.70/mile for 2026). Track every mile — it's the biggest deduction and dramatically lowers your taxable income.
Estimates for 2026 using IRS supplemental wage rules and FICA. Withholding shown is not final tax — actual liability is settled at filing. Not tax advice.
Tax calculations are estimates for educational and informational purposes only. This site does not provide tax, legal, or financial advice. Tax laws change frequently. Always consult a qualified tax professional for advice specific to your situation. Data sourced from IRS publications and official state tax authority websites.
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