1099 Tax Calculator for Self-Employed
Maximize your mileage deductions
MileIQ tracks your drives automatically so you don’t have to do it yourself — it's the easiest way to maximize your tax deductions.
Calculating 1099 taxes
MileIQ helps self-employed people make taxes less stressful! Use our 1099 tax calculator to estimate how much tax you may owe, but more importantly how much money you can save with deductions!
What’s the difference between a W-2 and a 1099?
W-2 forms are issued to employees (as classified by the Fair Labor Standards Act). Employees usually get taxes withheld on their paycheck and the W-2 lists their total wages and taxes already paid. A 1099 is issued to contractors by their clients — who are considered self-employed and pay their own taxes. It usually contains the total amount paid to a contractor within a year.
Do I need to wait until the end of the year to pay taxes?
No. You’ll get 1099s after the year is over, but as a self-employed person you need to pay quarterly taxes. This means you’ll need to estimate how much you’ll make and pay a portion of your tax every quarter.
What kinds of deductions can I get?
It depends on your industry, but some of the most common deductions include:
- Work mileage
- Travel expenses (accommodations and airfare)
- Home office (square footage)
- Training expenses (seminars, conferences, certifications)
If you claim a deduction you’ll need to keep thorough records of your incurred expenses, including mileage reports, when driving for work.
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