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Finance

Side Hustle Tax Calculator

Self-employment tax owed on side income.

Enter your values

ⓘ Live results

Results
Estimated total tax owed
$3,612.96
Net profit
$10,000.00
Self-employment tax
$1,412.96
Income tax (est.)
$2,200.00
Suggested quarterly set-aside
$903.24

Quick answer

Self-employment tax is 15.3% of net earnings (92.35% of profit), plus your marginal income tax rate.

SE tax = profit x 0.9235 x 15.3%; total = SE tax + income tax rate x profit

How to use the Side Hustle Tax Calculator

  1. 1Enter your total side hustle income and deductible business expenses.
  2. 2Enter your marginal federal income tax bracket.
  3. 3Set aside the estimated total tax in a separate savings account for quarterly payments.

Worked example

Using the values the calculator loads with:

Inputs

  • Side hustle income12000
  • Business expenses2000
  • Marginal income tax rate22 %

Results

  • Estimated total tax owed$3,612.96
  • Net profit$10,000.00
  • Self-employment tax$1,412.96
  • Income tax (est.)$2,200.00
  • Suggested quarterly set-aside$903.24

Frequently asked questions

Do I need to pay quarterly?

If you expect to owe $1,000+ in tax, the IRS generally requires quarterly estimated payments.

What counts as a business expense?

Ordinary and necessary costs like supplies, mileage, software and a portion of home office costs.

About this calculator

Results are estimates for general information. For medical, legal, structural or financial decisions, confirm with a qualified professional.