1099-NEC Profit & Tax Estimator
From Gross Revenue to Net Profit
Receiving a Form 1099-NEC means you're in business. The key to lowering your taxes is to deduct your business expenses. Use this calculator to see how much you can save.
Enter Your Income & Expenses
Common Business Deductions
Enter your estimated annual expenses below. Watch your tax liability drop!
Your Financial Snapshot
Total Gross Income
$0
(-) Total Deductions
$0
Estimated Taxable Profit
$0
Estimated Self-Employment Tax
$0
Estimated Income Tax
$0
Total Estimated Tax Liability
$0
Remember Your Responsibilities
Self-Employment Tax
You must pay both the employer and employee portions of Social Security and Medicare taxes. The good news: you can deduct one-half of what you pay.
Quarterly Estimated Taxes
Because no taxes are withheld, you must pay your taxes throughout the year using Form 1040-ES. This avoids a large bill and penalties at tax time.
