Q:

Is there a tax rate calculator online for 1099 contractors?

A:

Quick Answer

The most accurate source to estimate the tax rate for a 1099 contractor or self-employed person is from the Internal Revenue Service. This tool provides an easy to use worksheet online as part of the IRS Form 1040-ES.

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Full Answer

Additionally, the IRS offers a nine-session online workshop designed to help contractors understand the tax process and their tax responsibilities. To find an automated tax rate calculator online, try the CalcXML website that quickly calculates an estimate taxable income based on the estimated amount of income from self-employment and any other taxed employment. However, the IRS and its form still offers the most accurate and current tax information.

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