1099 Tax & Profit Calculator
Find your true NET rate after all taxes, fees & overhead.
# Tax AssistantWhat is 1099 Tax & Profit Calculator?
Ultimate Freelancer Tax & Profit Calculator (USA 1099) is the simplest Google Sheets template for independent contractors. Stop the tax guesswork! It automatically calculates your actual net profit from every project after deducting the 15.3% Self-Employment Tax, estimated Income Tax, and payment processing fees. Know your real worth!
Problem
Freelancers and independent contractors manually calculate taxes and project profits using separate tools or estimates, leading to tax guesswork, inaccurate net profit estimations, and underestimating payment fees and overhead costs.
Solution
A Google Sheets template that automatically calculates self-employment tax, income tax, and payment processing fees, enabling users to input project rates and instantly see their true net profit after all deductions.
Customers
Freelancers, independent contractors, and solopreneurs in the USA managing 1099 income, particularly those without dedicated accounting support.
Unique Features
Real-time profit calculation combining federal taxes (15.3% self-employment tax + income tax brackets) and payment processor fees (e.g., Stripe/PayPal) in a single template.
User Comments
Saves hours on tax calculations
Transparent breakdown of deductions
Easy to adjust for different rates/tax brackets
Provides confidence in pricing decisions
Reveals hidden costs of payment processing fees
Traction
Newly launched (exact user/revenue data unavailable on ProductHunt description). Founder has 23 followers on X (@taxcalculator_).
Market Size
US freelance workforce contributes $1.3 trillion annually to economy (Upwork 2023 report), with 64 million freelancers needing tax/profit management tools.
