1099 Quarterly Tax Calculator
Estimate your quarterly estimated tax payments — federal income tax plus self-employment tax — so you don’t get hit with an IRS underpayment penalty. An estimate only, not tax advice.
Estimated payment each quarter
$2,019
Federal income tax (yearly)
$2,422
Self-employment tax (yearly)
$5,652
Total federal tax (yearly)
$8,074
Effective rate on profit
20%
Assumes self-employment income is your only taxable income and you take the standard deduction. Other income, credits, state taxes, and deductions will change your actual payment.
Stop doing this by hand
Gigaverse tracks your income, mileage, deductions, quarterly taxes, and retirement automatically — so the numbers above just happen.
Frequently asked questions
When are quarterly taxes due?
Federal estimated taxes are generally due April 15, June 15, September 15, and January 15. Missing them can trigger IRS underpayment penalties, even if you pay in full by April.
How much should I set aside for taxes as a 1099 worker?
Many gig workers set aside 25–30% of net income, but it depends on your bracket, deductions, and other income. This calculator gives a more tailored estimate from your numbers — it’s still an estimate, not advice.
Does this include self-employment tax?
Yes. The estimate combines federal income tax (after the standard deduction and the deductible half of SE tax) with the 15.3% self-employment tax, then splits the total into four payments.
More free tools
Disclaimer: This calculator is for educational and informational purposes only and does not constitute financial, tax, or investment advice. All results are hypothetical estimates based on the inputs and stated assumptions, are not guarantees, and do not account for your full tax situation, state taxes, or credits. Gigaverse AI, Inc. is not a bank; brokerage services are provided through a FINRA/SIPC-member broker-dealer. Consult a qualified professional before making financial decisions. Full disclosures →