1099 Tax Calculator – Self-Employed, Freelancer & Contractor Take-Home Pay
Calculate your actual take-home pay as a 1099 freelancer, independent contractor, or gig worker. Self-employment tax (15.3%) is different from W-2 FICA — see the real numbers with a side-by-side W-2 vs 1099 comparison.
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Net Self-Employment Income: $100,000
1099 Take-Home
Self-Employment Tax
-$15,300
Federal Income Tax
-$10,844
Total Tax
-$26,144
Take-Home Pay
$73,857
Effective Tax Rate
26%
W-2 Comparison
FICA (7.65%)
-$7,650
Federal Income Tax
-$10,844
Take-Home Pay
$81,507
1099 vs W-2 Gap
1099 loses $7,650
1099 Tax FAQs
What is the self-employment tax rate?
15.3% total: 12.4% for Social Security (on first $176,100 of net earnings in 2026) and 2.9% for Medicare (on all net earnings). As a W-2 employee, your employer pays half (7.65%). As a 1099 contractor, you pay both halves.
How much should I set aside for 1099 taxes?
A good rule of thumb is 25-30% of your 1099 income. This covers self-employment tax (15.3%) plus federal and state income tax. Use the quarterly estimated tax safe harbor: pay 100% of last year's tax (110% if AGI >$150K) to avoid penalties.
W-2 vs 1099: which pays more after taxes?
1099 rates should be 20-30% higher than W-2 to break even after self-employment tax, lack of benefits (health insurance, 401k match, PTO), and higher tax complexity. If your 1099 rate is the same as a W-2 salary, you are losing money.
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