Owner finance

How much to set aside for taxes

The share of every 1099 check to stash so the April tax bill never bites.

Your inputs

$
%

Tax set-aside

Set aside24.4%of every dollar you take in
Per $1,000 of income
$244
Self-employment tax
$11,304
Federal income tax
$8,198
State income tax
$0
Total to stash this year
$19,501

A 2024 estimate: 15.3% SE tax on 92.35% of net (Social Security wage cap ignored), progressive federal brackets applied to net minus half the SE tax, and a flat state rate. It ignores the standard deduction, QBI, credits and quarterly-estimate timing, so it leans conservative (stash a little more). Not tax advice.