1099 / Freelancer Tax Calculator (2026)
Self-employment + federal income tax, and what to set aside each quarter
Total Tax to Set Aside
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This 1099 tax calculator estimates what freelancers and self-employed workers owe for 2026 — combining self-employment tax (15.3%) with federal income tax, minus deductible expenses and half of SE tax. It shows the total to set aside and a per-quarter target so you never get surprised at tax time.
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Frequently Asked Questions
How much should I set aside for 1099 taxes?
A common rule of thumb is 25–30% of your net freelance income, but the exact amount depends on your total income and filing status. This calculator gives a precise figure by combining self-employment tax (15.3%) with your federal income tax bracket. For most freelancers earning $40k–$90k, 25–30% is a safe target.
What is self-employment tax?
Self-employment (SE) tax is Social Security and Medicare tax for people who work for themselves — 15.3% total (12.4% Social Security up to $184,500 in 2026, plus 2.9% Medicare on all net earnings). W-2 employees split this with their employer; freelancers pay both halves, though half is deductible.
Do 1099 workers pay more tax than W-2 employees?
On the same income, yes — because you pay the full 15.3% SE tax instead of splitting it with an employer. But freelancers can deduct business expenses and half of their SE tax, which W-2 employees generally cannot, so real-world tax bills are often closer than they appear.
What business expenses can I deduct?
Ordinary and necessary costs of running your business: home office, software and subscriptions, equipment, internet and phone (business portion), mileage, professional services, and supplies. Every dollar of legitimate expense lowers both your SE tax and income tax, so track them carefully.
When are 1099 taxes due?
Freelancers generally pay quarterly estimated taxes on roughly April 15, June 15, September 15, and January 15. Missing them can trigger IRS underpayment penalties. Divide your total estimated tax by four, or use our Quarterly Estimated Tax Calculator for the exact schedule.