Self-employed income comes with a different tax structure, no employer FICA match, and entirely self-funded benefits. These tools handle all of it.
6 tools tagged “self-employed”
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.
What should you actually charge per hour? Account for taxes, health insurance, retirement, and the hours you can't bill — get the real number.
Formula
Rate = (Income + Expenses) ÷ Billable Hours
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.
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.
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.
See if a freelance project is worth taking before you sign. Calculates gross profit, after-tax net margin, true hourly rate including unpaid revisions, overhead allocation, and the minimum fee needed to break even.
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