Free · 2026 · No sign-up
Know exactly what to set aside for taxes.
Punch in your numbers and get an instant estimate of your self-employment tax, income tax, and the amount to put away every quarter — built for 1099 contractors, freelancers, and gig workers.
- Self-employment tax
- Federal + state
- Per-quarter number
Set aside each quarter
$0
≈ $0 for the full year · 0% effective rate
- Net profit$0
- Self-employment tax$0
- Federal income tax$0
- State income tax$0
- Estimated take-home$0
2026 quarterly due dates
Stop guessing all year
A calculator is a snapshot. A tracker keeps you ready.
This estimate is one moment in time. Our Tax Tracker spreadsheet logs your income and expenses all year, updates your numbers live, and tells you what to pay every quarter — automatically. Works in Excel & Google Sheets.
Get the Tax Tracker Spreadsheet →Instant download · reusable every year
How self-employment & quarterly taxes work
When you're a 1099 contractor, freelancer, or gig worker, taxes aren't withheld from your pay. You're responsible for two things: self-employment tax (Social Security and Medicare) and income tax (federal and often state). Because nobody withholds it for you, the IRS expects you to estimate what you'll owe and pay it in four installments through the year.
1. Self-employment tax
Self-employment tax is 15.3% — that's 12.4% for Social Security plus 2.9% for Medicare. It's calculated on 92.35% of your net profit (income minus business expenses). The 12.4% Social Security portion only applies up to the annual wage base of $176,100; above that, just the 2.9% Medicare portion continues. You can deduct half of your self-employment tax when figuring your income tax.
2. Income tax
On top of self-employment tax, your net profit is also subject to regular federal income tax (and state income tax in most states). Your actual rate depends on your total income, deductions, and bracket — this tool uses a simple effective rate you can adjust to match your situation.
3. Pay it quarterly
If you expect to owe $1,000 or more for the year, the IRS wants estimated payments four times a year. Missing them can mean an underpayment penalty. The simplest habit: every time you get paid, move your "set aside" percentage into a separate savings account, and pay from there each quarter.
This calculator gives a simplified estimate for planning only. It is not tax advice. Tax rules change and your real liability depends on your full situation — verify figures with the IRS or a qualified CPA.
Frequently asked questions
How much should I set aside for taxes as a 1099 contractor?
A common rule of thumb is 25–30% of your net profit. This calculator gives you a sharper number by estimating self-employment tax plus federal and state income tax, then dividing by four.
What is the self-employment tax rate for 2026?
15.3% (12.4% Social Security + 2.9% Medicare) on 92.35% of your net profit, up to the $176,100 Social Security wage base. Above that, only the 2.9% Medicare portion applies.
When are quarterly estimated taxes due?
For most years: April 15, June 15, September 15, and January 15 of the following year.
Do I really have to pay quarterly?
If you expect to owe $1,000 or more in tax for the year, the IRS generally expects quarterly estimated payments to avoid an underpayment penalty.