Planning guide
How to use the 1099 net earnings estimator
Worked example
1099 net earnings: calculation example
$90,000 self-employment income less $20,000 expenses gives $70,000 net earnings before tax. The simplified self-employment tax estimate is $70,000 × 92.35% × 15.3%, or about $9,891.
The estimate excludes federal and state income tax, deductions, credits, wage-base limits, additional Medicare tax, and individual circumstances.
Common question
Understand the result
Is this my total tax bill?
No. It omits income tax and other self-employment tax adjustments. Check current IRS guidance and your tax details before estimating what you owe.