How It Works
Three simple steps to get accurate calculations
1
Enter Quarterly Income
Input your gross gig earnings for the quarter.
2
Add Mileage & Deductions
Enter business miles and other deductions.
3
Set State Tax Rate
Include your state income tax rate.
4
Get Tax Estimate
See quarterly payment and weekly set-aside.
Loading Gig Worker Quarterly Tax Calculator...
Frequently Asked Questions
How much should gig workers set aside for taxes?
Set aside 25-30% of net income (after deductions). Breakdown: ~15% for self-employment tax, 10-12% for federal income tax, 0-10% for state. After mileage deduction, effective rate is often 15-20% of gross.
What is self-employment tax?
Self-employment tax is 15.3% (12.4% Social Security + 2.9% Medicare) on 92.35% of net self-employment income. This is IN ADDITION to income tax. It's the employer + employee portion of FICA that W-2 workers split with employers.
When are quarterly estimated taxes due?
Q1 (Jan-Mar): April 15. Q2 (Apr-May): June 15. Q3 (Jun-Aug): September 15. Q4 (Sep-Dec): January 15. Miss these dates and face penalties. Set up automatic transfers to a tax savings account.
Can I deduct mileage for rideshare?
Yes! 2024 IRS rate is $0.67/mile. Track EVERY business mile (app-on to app-off, not just with passengers). At 30,000 miles/year, that's $20,100 in deductions - often your biggest write-off.
What happens if I don't pay quarterly taxes?
IRS charges underpayment penalties (currently ~8%). If you owe $1,000+ at year-end without quarterly payments, expect penalties. Safe harbor: Pay 100% of prior year tax or 90% of current year to avoid penalties.
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Results are estimates for informational purposes only. Consult professionals for important decisions.