Money
1099 tax calculator
Quick Answer: A useful 1099 tax calculator starts with net business profit, not the number printed on one form. Estimate gross creator receipts from every source, subtract only supportable business expenses, calculate self-employment tax, estimate federal income tax for the full household, add any other applicable taxes, then subtract withholding and credits. For 2026, the federal self-employment worksheet generally applies 92.35% to net profit, 12.4% Social Security tax up to the available $184,500 wage base, and 2.9% Medicare tax without that wage-base cap. A calculator is a planning tool, not a return or payment instruction. For preparing a return, TaxAct Self-Employed is a filing-software option.