Side Hustle Tax Calculator
Freelance and gig income is taxed twice: 15.3% self-employment tax plus income tax. See what you actually keep from your side hustle.
How to use this calculator
- Enter annual side-hustle profit.
- Enter filing status.
- Your results appear instantly below and update as you change the numbers.
How this calculator works
Self-employment tax is 15.3% (12.4% Social Security up to $184,500 plus 2.9% Medicare, on 92.35% of your profit) — and half of it is deductible on your income tax. Your side-hustle profit, minus that deduction, is then taxed at your ordinary income rates. The calculator combines both to show your total tax and effective rate on the income.
Frequently asked questions
How much should I set aside from each gig?
Roughly 25-35% of net profit, depending on your bracket. The self-employment tax alone is 15.3%, and income tax adds on top — set aside a third and you'll rarely owe at filing.
Do I need to pay quarterly estimated taxes?
Yes — if you expect to owe $1,000 or more, the IRS wants quarterly estimated payments (or higher withholding from a W-2 job). The quarterly tax calculator here can help you size them.
What counts as a deductible expense?
Ordinary and necessary costs of the work: supplies, software, a home-office percentage, mileage, phone, and business insurance. Only profit — revenue minus expenses — is taxed.
Disclaimer: Results are estimates for general information only and do not constitute financial, tax, or legal advice. Figures reflect 2026 rules and may change. Always confirm current limits and consult a qualified professional before making decisions. Official figures: IRS.gov · 2026 limits per IRS tax inflation adjustments.