1099 Tax Calculator
This calculator provides an estimate of federal self-employment tax (Social Security and Medicare), an approximate federal income tax, an estimated state tax, total estimated tax due after withholdings and prior estimated payments, and suggested quarterly payment amounts.
Estimates are intended for planning and budgeting. They do not replace official tax preparation or filing and should be used alongside IRS guidance and a qualified tax professional when necessary.
Fast estimate using standard self-employment tax calculation and a simplified federal income tax approximation.
Inputs
Results
Estimated self-employment tax
$7,771.25
Estimated federal income tax
$7,452.87
Estimated state income tax
$0.00
Estimated total tax due (after withholdings)
$15,224.13
Suggested quarterly payment
$3,806.03
Recommended percent of gross to set aside
2768.02%
| Output | Value | Unit |
|---|---|---|
| Estimated self-employment tax | $7,771.25 | USD |
| Estimated federal income tax | $7,452.87 | USD |
| Estimated state income tax | $0.00 | USD |
| Estimated total tax due (after withholdings) | $15,224.13 | USD |
| Suggested quarterly payment | $3,806.03 | USD |
| Recommended percent of gross to set aside | 2768.02% | % |
Visualization
Methodology
Self-employment tax is calculated from net business earnings after allowable business expenses. The tool uses the employer-equivalent adjustment (92.35% of net earnings) to determine the Social Security and Medicare components, and applies a Social Security wage base cap to the Social Security portion.
Federal income tax is approximated using a conservative effective-rate approach in detailed mode to keep calculations transparent and fast. For precise bracket-by-bracket liability, consult IRS tax tables or tax preparation software.
Data handling and quality follow recognized engineering and security practices. This product references general standards for data integrity and security (NIST, ISO, IEEE) and adheres to general workplace safety documentation practices (OSHA) for internal operational procedures.
Key takeaways
Use the Quick estimate for a fast planning number. Use Detailed mode when you want conservative set-aside guidance and clearer component breakdowns.
This tool is for planning only. For precise filing figures, use IRS resources or consult a tax professional.
Further resources
External guidance
Expert Q&A
Is this the exact tax I will owe?
No. This is an estimate for planning. It uses standard formulas for self-employment tax and a simplified federal income tax approximation. Final liability can differ due to credits, itemized deductions, tax credits, AMT, Additional Medicare Tax, exact bracket calculations, and state-specific rules.
Does this account for the Social Security cap and Additional Medicare Tax?
The calculator applies a Social Security wage base cap for the Social Security portion. It does not automatically calculate Additional Medicare Tax thresholds by filing status; consult IRS guidance or a tax advisor for high-income situations.
Can I rely on the quarterly payment suggestions to avoid penalties?
Quarterly suggestions are a guideline. Avoiding underpayment penalties depends on meeting safe-harbor rules and paying sufficient amounts during the year. Use IRS resources or a tax professional for compliant payment planning.
How accurate is the federal income tax estimate?
The federal income tax estimate is intentionally conservative and simplified to keep the tool fast and transparent. For exact bracket-level calculations, use IRS tax tables or full tax-preparation software.
Sources & citations
- IRS – Self-Employment Tax — https://www.irs.gov/businesses/small-businesses-self-employed/self-employment-tax
- IRS – Estimated Taxes — https://www.irs.gov/businesses/small-businesses-self-employed/estimated-taxes
- NIST (National Institute of Standards and Technology) — https://www.nist.gov
- ISO (International Organization for Standardization) — https://www.iso.org
- IEEE (Institute of Electrical and Electronics Engineers) — https://www.ieee.org
- OSHA (Occupational Safety and Health Administration) — https://www.osha.gov