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1099 Self-Employment Tax & Quarterly Payment Estimator

Calculate 15.3% FICA self-employment taxes, business expense write-offs, and IRS quarterly estimated payments.

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Disclaimer: Tax calculations are based on 2024 IRS Schedule SE rules and standard deductions. Consult a CPA for state-specific tax filings.

Understanding the 15.3% Self-Employment Tax for 1099 Contractors & Freelancers

Unlike W-2 employees whose employers cover half of their Social Security and Medicare taxes, 1099 independent contractors, gig workers (Uber, DoorDash, Etsy), and freelancers must pay both employee and employer portions of FICA tax.

1. How 15.3% Self-Employment Tax Works

The self-employment tax rate is 15.3%, which consists of:

  • 12.4% Social Security Tax on net self-employment earnings up to the $168,600 wage base cap.
  • 2.9% Medicare Tax on all net self-employment earnings.

2. IRS Form 1040-ES Quarterly Payment Deadlines

If you expect to owe more than $1,000 in taxes, the IRS requires quarterly estimated tax payments on four annual deadlines: April 15, June 15, September 15, and January 15.