Side Hustle Profit Calculator
Free online side hustle profit calculator to estimate net income after expenses, taxes, and platform fees. See if your gig work is truly worth the effort.
Specialist tool for Career1 documented formula4 real workflowsPrivate in your browser
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Inputs that matter
Monthly Revenue, Monthly Expenses, Combined Tax Rate, Hours Worked/Month
Output to expect
Side Hustle Profit Calculator
How it works
1 documented formula across 1 calculation mode
- Confirm that every value uses the unit and time basis shown before comparing scenarios.
- Change one input at a time to see which assumption materially changes the result.
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Reference & details
How it works
Updated July 2026
How it works
Updated July 2026Net Monthly Side Income
Subtract all recurring and raw materials costs (platform fees, advertising, supplies, software) from gross monthly sales.
Net Side Income = Gross Revenue - Cost of Goods - Subscriptions - Platform FeesTrue Effective Hourly Wage
Calculates the real return on your time by dividing net profit by the total active hours spent working on the project.
Effective Hourly Wage = Net Monthly Profit ÷ Monthly Active HoursTax Set-Aside Estimation
Calculate self-employment tax (15.3% on 92.35% of profits) plus your marginal federal/state income tax rate to find what to save.
Tax Set-Aside = Net Monthly Profit × (14.1% SE tax + Marginal Income Tax %)Updated: July 2026
Example Scenarios
Selling handmade jewelry with $3,200 monthly sales, spending $1,200 on supplies and 40 hours of monthly labor.
Gross Revenue: $3,200Material Cost: $1,200Labor Hours: 40 hours
→ Net profit: $2,000; True hourly wage: $50/hour; Tax set-aside: ~$600 (at 30% effective rate)
Earning $1,800 a month driving, but incurring heavy fuel costs and vehicle depreciation ($0.67 IRS mileage rate).
Gross Revenue: $1,800Miles Driven: 1,500 milesLabor Hours: 60 hours
→ Tax deduction value: $1,005; Net profit: ~$795; True hourly wage: ~$13.25/hour
Consulting on retainer for $5,000/month with low overhead ($250 software subscriptions) and 50 hours of monthly labor.
Gross Revenue: $5,000Overhead Cost: $250Labor Hours: 50 hours
→ Net profit: $4,750; True hourly wage: $95/hour; Tax set-aside: ~$1,425
FAQ
As a rule of thumb, set aside 25% to 35% of your net profits (revenue minus business expenses) in a separate savings account. This covers self-employment tax (15.3%) plus federal and state income taxes.
Yes. Any expense that is 'ordinary and necessary' for your business can be deducted. This includes software, hardware, home office space (if dedicated), advertising, transaction fees, and business travel or vehicle mileage.
For 2024, the IRS standard mileage rate is 67 cents per mile driven for business purposes. This rate is designed to cover gas, insurance, maintenance, repairs, and general vehicle depreciation, making tracking mileage highly profitable.
About Side Hustle Profit Calculator
Running a side hustle involves tracking revenues against unique operational and tax expenses. This calculator determines your true hourly wage, net monthly profits, and estimates the necessary tax set-aside to avoid surprise IRS bills.