Track All 1099 Income
OngoingLog every payment from clients and platforms — you owe taxes on gross income even without a 1099 form.
Field context
This workflow is part of 7 niche fields
Free step-by-step freelance tax for freelancers. Plan freelance tax with calculators and checklists covering track all 1099 income, calculate self-employment.
Log every payment from clients and platforms — you owe taxes on gross income even without a 1099 form.
Compute 15.3% SE tax (Social Security + Medicare) on net earnings, with half deductible above the line.
Submit Form 1040-ES payments by April 15, June 15, September 15, and January 15 to avoid underpayment penalties.
Report business income and expenses on Schedule C, deduct home office, mileage, supplies, and health insurance premiums.
Calculate 15.3% SE tax on net freelance income.
Determine estimated quarterly payment amounts.
Estimate total federal tax including SE tax and income tax.
Separate business and personal finances for clean reporting.
US estimated tax payment schedule for self-employed.
| Quarter | Period | Due Date |
|---|---|---|
| Q1 | Jan-Mar | April 15 |
| Q2 | Apr-May | June 15 |
| Q3 | Jun-Aug | September 15 |
| Q4 | Sep-Dec | January 15 |
Waiting until April to pay a full year of SE tax often triggers underpayment penalties of 8%+ annually.
Self-employed health insurance premiums are 100% deductible above the line on Form 1040.
Contribute up to 25% of net SE income to reduce taxable income significantly.