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Self-Employed Tax Guide 2024
★★★★☆ 4.4 · 1,200+ reviews
A practical tax reference for sole proprietors and independent contractors.
~$25
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Subcontractor Payroll Calculator
Estimate contractor payroll, self-employment tax, and net take-home pay by pay period, filing status, and state.
We annualize this using the same pay period, so a $150 weekly deduction becomes $7,800 per year.
Estimated annual net take-home
$0
≈ $0 per pay period after estimated taxes
Gross income
$0
SE tax
$0
Federal tax
$0
State tax
$0
Quarterly SE payment
$0
Effective tax rate
0%
This estimate includes self-employment tax, federal income tax, and a flat state rate.
Annual breakdown
Use this as a quick subcontractor pay calculator before you price jobs or accept a 1099 rate.
| Item | Amount |
|---|---|
| Gross Income | $0 |
| SE Tax (15.3%) | -$0 |
| Federal Tax (est.) | -$0 |
| State Tax | -$0 |
| Other Deductions | -$0 |
| Net Take-Home | $0 |
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Frequently asked questions
How is self-employment tax calculated?
This tool uses the IRS shortcut: 15.3% on 92.35% of your net self-employment income. That covers Social Security and Medicare for a 1099 subcontractor.
Does this contractor payroll calculator include federal tax brackets?
Yes. We estimate federal income tax using simplified 10%, 12%, 22%, and 24% brackets plus a standard deduction for single or married filers.
What should I enter for additional deductions?
Use recurring business write-offs tied to the same pay period: fuel, tools, insurance, software, bookkeeping, or other deductible costs that reduce your net business income.
Why is the quarterly payment lower than my total taxes?
The quarterly figure shown here is just your self-employment tax divided by four, because that is often the easiest amount to reserve first. Federal and state estimated payments may also be due.
Is this exact enough to file my taxes?
No. It is a planning tool, not tax advice. Use it to price jobs and reserve cash, then confirm final numbers with your CPA or enrolled agent.
Need professional templates?
Pair this calculator with our contractor templates to tighten up invoices, change orders, and job costing before tax season hits.
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