Freelancer Annual Tax Summary
Every number in one place. Enter your 1099 income and deductions to see the full tax waterfall — SE tax, above-the-line deductions, AGI, federal income tax by bracket, state tax, quarterly payments, and net take-home.
Net SE Income
$70,550
Total Tax
$18,798
23.5% effective rate
Quarterly Payment
$4,699
Take-Home
$51,752
Income & Filing
Total self-employment revenue before expenses
Add any non-1099 income here
Business Expenses
Actual expenses (simplified or regular method)
Business miles — deducted at $0.67/mi
Enter full amount — 50% auto-applied
Above-the-Line Deductions
SEP-IRA max for your income: $17,638
Self-employed health, dental, vision, LTC (IRC §162(l))
Used to calculate safe harbor quarterly payments
Tax Waterfall
Gross 1099 income
− Business expenses
6 categories
= Net SE income
− Self-employment tax
SS 12.4% + Medicare 2.9%
− Above-the-line deductions
½ SE + retirement + health ins
= AGI
− Standard deduction
Single
= Federal taxable income
− Federal income tax
8.1% effective
− California state tax
9.3% effective
Quarterly Estimated Payments
Recommended Tax Savings Balance
$18,798
Keep this in a HYSA dedicated to taxes. Pay quarterly from here.
Expense Breakdown
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