What business expenses can 1099 contractors deduct?

Contractors can deduct home office costs, mileage, computer hardware, internet, phone bills, and equipment directly from their gross business income.

What is the 20% Qualified Business Income (QBI) deduction?

Under Section 199A, eligible self-employed contractors and pass-through business owners can deduct up to 20% of net qualified business income from federal income tax.

USA1099 vs. W-2 Paycheck ComparisonFinanzen

US 1099 Contractor vs. W-2 Employee Take-Home Pay & Equivalent Rate Calculator

Compare net after-tax take-home earnings between an independent contractor (1099 NEC subject to 15.3% Self-Employment tax) and a salaried employee (W-2 with employer FICA and benefit coverage).

Gehälter und Löhne Freiberufler Steuern & Abgaben

Eingabedaten

Echtzeit-Berechnung

Target W-2 Annual Salary ($)

Schnellauswahl:

Estimated 1099 Business Expenses / Deductions ($)

Schnellauswahl:

Berechnetes Ergebnis1099 vs. W-2 Paycheck Comparison

Equivalent 1099 Annual Revenue Needed to Match W-2

$133,000

Required 1099 Hourly Billing Rate ($/hr)

$66.5

Standard W-2 Employee Hourly Rate ($/hr)

$48.08

Detaillierte Berechnungsübersicht

W-2 Salary

$100,000

Extra SE Tax (7.65%)

$7,650

1099 Equivalent Target

$133,000

Berechnungsmethodik

1099 SE Tax = Net 1099 * 0.9235 * 15.3%. Equivalent 1099 Rate = W-2 Salary * 1.30 (approx 25-35% markup to account for self-employment tax, healthcare, and PTO).

Wichtiger rechtlicher Hinweis

1099 contractors pay both halves of FICA (15.3%) and do not receive paid time off or employer-subsidized health insurance.

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Häufig gestellte Fragen

W-2 employees split FICA taxes 50/50 with their employer (paying 7.65%), while 1099 independent contractors pay the full 15.3% self-employment tax.

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US 1099 Contractor vs. W-2 Employee Take-Home Pay & Equivalent Rate Calculator

Eingabedaten

Detaillierte Berechnungsübersicht

Berechnungsmethodik

Wichtiger rechtlicher Hinweis

Häufig gestellte Fragen

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