Gig Economy Calculator

Gig Worker Income Calculator

Calculate your true earnings from freelance work, rideshare, delivery, and other gig economy jobs

Self-Employment Tax

As a gig worker, you're responsible for 15.3% self-employment tax (Social Security + Medicare) on top of regular income tax.

Social Security 12.4%

Medicare 2.9%

Total SE Tax 15.3%

* Half of SE tax is deductible on your income tax return

Common Gig Platforms

Uber/Lyft

DoorDash

Instacart

Shipt

Fiverr

Upwork

TaskRabbit

Rover

Tax Tips for Gig Workers

Pay quarterly estimated taxes to avoid penalties
Track all miles driven for deductions (67 cents/mile in 2024)
Keep receipts for supplies, equipment, phone bills
Consider a SEP-IRA for retirement savings
You may qualify for the QBI deduction (20% off)

Gig Income Calculator

1 Primary Gig Income

Platform/Source

YTD Earnings

2 Additional Income (optional)

Platform/Source

YTD Earnings

Expenses & Deductions

Miles Driven (YTD)

$0.67/mile deduction

Other Business Expenses

Phone, supplies, etc.

Started Working (This Year)

As of Date

Quarterly Tax Payment Deadlines

Q1 (Jan-Mar)

April 15

Q2 (Apr-May)

June 15

Q3 (Jun-Aug)

September 15

Q4 (Sep-Dec)

January 15

Set aside 25-30% of your net gig income for taxes. Pay estimated taxes if you expect to owe $1,000+ for the year.

Frequently Asked Questions

If you expect to owe $1,000 or more in taxes for the year, you should pay quarterly estimated taxes to avoid penalties. This includes both self-employment tax and income tax on your gig earnings.

Common deductions include: mileage (67 cents/mile in 2024), phone bills (business %), supplies, hot bags, car washes, tolls, parking, and platform fees. Keep receipts and track miles with an app.

You can choose the standard mileage rate (67 cents/mile) OR actual expenses (gas, maintenance, insurance, depreciation). Standard is simpler; actual may save more if you have an older, fuel-efficient car. You must choose when you first use the car for business.

If you have a W-2 job too, you can increase your withholding to cover your gig taxes instead of paying quarterly. Submit a new W-4 to your employer. Your gig income still gets reported on Schedule C.