Every 1099 worker pays self-employment tax, estimates quarterly payments, and navigates a tax code built around W-2 employees. These tools close that gap.
15 tools tagged “1099”
DTI is the primary number lenders use to approve mortgages. Contractors get flagged because lenders use 2-year net income, not gross revenue. See your front-end and back-end DTI, loan qualification status, and exactly how much debt to pay off or income to add to qualify.
Your marginal bracket isn't what you actually pay. See your combined effective rate across federal, SE/FICA, and state — for W-2 or 1099 income. Bracket breakdown, take-home pay, and income scenario table.
1099 contractors have no unemployment insurance — 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.
Same gross pay, wildly different take-home. See exactly how W-2 and 1099 offers compare after self-employment tax, FICA, and employer benefits — 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
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.
Calculate your IRS mileage deduction for 2024 (67¢/mile) or 2023 (65.5¢/mile). Compares standard mileage vs actual expense method to find the larger deduction — with tax savings at your rate and IRS log reminders.
Compare the real cost of hiring a W2 employee vs a 1099 subcontractor. Includes employer FICA, unemployment insurance, workers comp, benefits, PTO, and payroll admin — with misclassification risk guidance.
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.
1099 contractors: see what lenders actually use as your income (net SE, not gross), calculate front-end and back-end DTI, get loan qualification likelihood, and credit improvement actions ranked by impact.
Put a real dollar number on your W2 benefits package — health insurance, 401k match, PTO, disability, and perqs. Calculate total compensation and the 1099 equivalent daily rate needed to match the full package.
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.
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.
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.
Is your side gig actually worth it? Enter hourly rate, hours per week, and expenses to see net income after SE tax, effective hourly rate, and whether you're beating the opportunity cost of those hours at your day job.
Stop guessing your rate. Work backwards from desired take-home to find your walk-away floor, target ask, and W-2 salary equivalent. Includes a ready-to-use negotiation script and rate schedule for hourly, daily, weekly, and monthly contracts.
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