Working independently means you carry the financial weight an employer used to absorb β taxes, benefits, retirement, irregular income. These tools give 1099 contractors the same clarity a CFO has: exactly what to charge, what to set aside, and how to build wealth without an HR department. Every result shows the formula behind it.
What should you actually charge per hour? Account for taxes, health insurance, retirement, and the hours you can't bill β get the real number.
Formula
Rate = (Income + Expenses) Γ· Billable Hours
Same gross pay, wildly different take-home. See exactly how W-2 and 1099 offers compare after self-employment tax, FICA, and employer benefits β then get the break-even number that tells you exactly what to negotiate.
Formula
breakEven = 1099 gross that matches W-2 total value incl. benefits
Side-by-side comparison of a job offer vs freelance income after all taxes. Accounts for SE tax, FICA, benefits, 401k match, expenses, and retirement β the winner highlighted in emerald.
Calculate your quarterly IRS payments with QBI deduction (Section 199A), safe harbor, and all 4 due dates. Adds the 20% pass-through deduction that most freelancers forget to claim.
Calculate your estimated quarterly tax payments as a freelancer or 1099 contractor. Covers self-employment tax, federal income tax by bracket, state tax, and IRS safe harbor rules.
Have a W-2 job and 1099 side income? Find out exactly how much to add on W-4 line 4c to cover your 1099 tax without paying quarterly estimates. Shows total liability, withholding gap, safe harbor status, and recommended amount per paycheck.
Four calculators chained into one: net income after SE tax β full tax picture β monthly cash flow β retirement projection. Generates a shareable snapshot of your entire financial picture.
Formula
Income β Tax β Cash Flow β FV = PV(1+r)βΏ + PMT[(1+r)βΏβ1]/r
Evaluate any contract before responding. Compare gross vs net for W2, 1099, or Corp-to-Corp. See effective hourly rate after taxes, W2 equivalent salary, commute costs, and a Respond with Confidence verdict.
Calculate your home office tax deduction using the IRS simplified method ($5/sq ft, max $1,500) or the regular method (actual expenses Γ business-use %). See your estimated tax savings for freelancers and 1099 contractors.
Model your next 3 months of cash flow as a freelancer or contractor. Separate invoices sent from collections received, flag negative cash months, calculate runway, and see what reserve balance you need to cover 3β6 months of expenses.
Compare your current retirement savings pace vs an aggressive catch-up scenario. Projected balance at retirement, monthly income (4% SWR), milestone timeline, and Solo 401k contribution limits for self-employed contractors.
Find the optimal 401(k) contribution to maximize your employer match, minimize taxes, and hit your retirement goal. Shows the real cost of under-contributing β before and after employer match.
1099 contractors have no unemployment insurance β your emergency fund IS your safety net. Find your recommended fund size based on employment type and income stability, then see exactly when you'll be fully funded.
Calculate your overhead rate, fringe rate, G&A rate, and fully burdened labor cost. See the billing rate you need to hit your profit target β with the per-$100 breakdown used in government contracting proposals and project bids.
Calculate your IRS mileage deduction for 2024 (67Β’/mile) or 2023 (65.5Β’/mile). Compares standard mileage vs actual expense method to find the larger deduction β with tax savings at your rate and IRS log reminders.
Calculate your Form 1040 Line 17 health insurance deduction as a self-employed person. Covers health, dental, vision, and LTC premiums. Shows deduction cap at net SE income, federal and state tax savings, and effective monthly premium cost after the government subsidy.
Compare Section 179 expensing, bonus depreciation (60% in 2024), and MACRS for any business asset. See year-1 deduction, estimated tax savings, and a full multi-year MACRS schedule.
Sole Prop vs LLC vs S-Corp: the biggest financial decision a new contractor faces. See SE tax burden, formation cost, complexity, and exact savings side-by-side β with the break-even threshold for your situation.
Choose the right pricing model for your next project. Compare fixed price, hourly, retainer, value-based, and milestone billing β with risk-adjusted quotes, revision buffers, and a model recommendation based on your project details.
Put a real dollar number on your W2 benefits package β health insurance, 401k match, PTO, disability, and perqs. Calculate total compensation and the 1099 equivalent daily rate needed to match the full package.
Rate confidence closes deals. Most freelancers undercharge by 30β40% because they forget to factor in self-employment tax (15.3%), unpaid hours, and benefits they now pay out of pocket. A calculator that works backwards from your target take-home removes the guesswork β and the awkward negotiation.
Quarterly taxes paid correctly protect your cash flow. Missing or underpaying IRS estimated payments triggers penalties and a surprise bill in April. Knowing the exact safe-harbor amount β including the 20% QBI deduction many contractors miss β means no surprises and cash reserved at the right level all year.
Retirement math makes the difference between retiring and working forever. Without an employer 401k match, contractors can contribute up to $69,000/year to a Solo 401k β nearly 10Γ the IRA limit. Running the compound interest math early shows how aggressive contributions today close what looks like an impossible gap in years.
W-2 vs 1099: What the Math Actually Shows
The real take-home difference after SE tax, FICA, and benefits β with a break-even negotiation number.
1099 Quarterly Tax Planner
Calculates QBI deduction, safe harbor thresholds, and all 4 due dates β so you always pay the right amount on time.
Financial Snapshot β Your Full Picture
Income β Tax β Cash Flow β Retirement in one chained calculator. Generates a shareable snapshot of your finances.
Contractor Retirement Catch-Up
Solo 401k limits, catch-up contribution math, and a side-by-side projection of current vs aggressive savings pace.