NetPayPlanner1099 Tax Calculator
Enter what you earned as an independent contractor and the business expenses you can deduct. This 1099 tax calculator estimates self-employment tax, federal income tax and state tax, and shows how much to set aside from each payment.
Estimated total tax
$15,517.24
That is 22% of your net profit. Set aside about 22% of every payment.
| Per year | Per month | |
|---|---|---|
| Net profit | $70,000.00 | $5,833.33 |
| Self-employment tax | $9,890.69 | $824.22 |
| Federal income tax | $5,626.56 | $468.88 |
| State income tax | $0.00 | $0.00 |
| Total tax | $15,517.24 | $1,293.10 |
| Left after tax | $54,482.76 | $4,540.23 |
Estimate only. It does not include the 20% qualified business income deduction, credits, or other income, all of which can lower your tax.
How 1099 tax works
When you are paid on a 1099 form, no one withholds tax for you. You pay self-employment tax, which is the Social Security and Medicare tax you would split with an employer, plus income tax. Self-employment tax is 15.3% on 92.35% of your net profit. You can deduct half of it when you figure income tax.
Frequently asked questions
What is the 1099 tax rate?
There is no single rate. Self-employment tax is 15.3% on 92.35% of net profit, which works out to about 14.1% of profit up to $184,500 in 2026. Federal income tax and state tax come on top of that.
How much should I set aside for taxes as a 1099 contractor?
Many contractors set aside 25% to 30% of each payment. The calculator above gives a figure for your own income, expenses and state.
Can I deduct business expenses from 1099 income?
Yes. Ordinary and necessary business expenses reduce your net profit, which lowers both self-employment tax and income tax.
Do I need to make quarterly payments?
Usually yes, if you expect to owe $1,000 or more for the year. Use our quarterly estimated tax calculator to see the amounts.