Free tool
1099 tax calculator
Got 1099-NEC income from contract work, gig apps or clients? Enter what you earned and what you spent and see how much to set aside for federal taxes.
Federal figures for tax year 2026: self-employment tax of 15.3% on 92.35% of net profit (12.4% Social Security up to the $184,500 wage base, 2.9% Medicare), half of self-employment tax deducted from income, standard deduction of $16,100 single, $32,200 married filing jointly, $24,150 head of household, the 20% qualified business income deduction, and 2026 federal brackets. State income tax is not included. Estimates only; confirm with a tax professional. Figures should be verified against the final IRS inflation adjustments before relying on them.
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FAQ
Questions, answered
Is 1099 income taxed more than W-2?
You pay both halves of Social Security and Medicare (15.3% instead of 7.65%), but you can deduct business expenses, half of the self-employment tax, and usually 20% of profit through the QBI deduction. The net effect depends on your expenses. Try the 1099 vs W-2 calculator.
I did not get a 1099 for some income. Do I still report it?
Yes. All self-employment income is taxable whether or not a form arrives. Your bank statements are the record, which is why ProfitBooks starts from them.
What expenses can I deduct?
Anything ordinary and necessary for the work: mileage or vehicle costs, supplies, software, phone and internet, home office, insurance, fees, training, and contractor payments. The business type pages list the common ones for each kind of work.
Stop estimating. Know your real numbers.
Upload your bank statements and ProfitBooks builds the profit and loss these calculators are guessing at. 100 free credits to start, $20 a month, billed annually, after that.