1099 Paycheck Calculator
This tool takes your gross 1099 pay for a period and your business expenses. It shows an estimated self-employment tax and a set-aside amount. You type the income-tax percent you want to use.
Use it to plan each payment you receive, not just once a year. The result is an estimate for planning, not a filed tax figure.
Estimate only. Leaves out the additional 0.9% Medicare tax, credits, deductions other than the SE-tax half, and state tax.
Worked example
Say you receive $5,000 in a month and have $1,000 of business expenses. Net profit is $4,000. Net earnings are $4,000 x 92.35% = $3,694. SE tax is about $3,694 x 15.3% = $565. If you type 20% for income tax, the tool adds about $800, for a set-aside near $1,365. The employer-equivalent half of the SE tax (about $283) is deductible in figuring AGI, which affects income tax only.
Common mistakes
Leaving out small expenses understates the set-aside. Using one income-tax percent for every month can drift from your real rate. Forgetting that SE tax applies once net earnings reach $400. Also remember the 2026 social security wage base of $184,500 caps the 12.4% part when combined wages and SE earnings pass it.
Records to keep
Keep payment records, receipts for expenses, and a running log of amounts you set aside. Note the date and method of each payment. These records feed your quarterly estimate and your year-end return.
- IRS: Self-employment tax (Social Security and Medicare taxes)
- IRS: Schedule SE (Form 1040)
- IRS: Estimated taxes
Questions
Does this include income tax?
No. You type your own income-tax percent. The tool estimates SE tax and adds your percent to show a set-aside.
What expenses can I enter?
Ordinary business expenses tied to the 1099 work. Keep receipts so the numbers hold up later.
Is the set-aside the tax I owe?
It is an estimate for planning. Your actual tax depends on your full return.
Data checked 2026-10-31 against the linked irs.gov pages.