Side Hustle Tax Calculator

Estimate your tax liability and quarterly payments for your side hustle income

Income & Expenses

Annual Side Hustle Income ($)

State

Employment Type

Business Expenses

Marketing & Advertising ($)

Software & Subscriptions ($)

Equipment & Supplies ($)

Travel & Transportation ($)

Home Office ($)

Other Expenses ($)

Enter your income and state to calculate your tax liability and quarterly payments.

How much should I set aside for taxes from my side hustle?

Generally, it's recommended to set aside 25-30% of your side hustle income for taxes. This includes self-employment tax (15.3%) plus federal and state income taxes. Your actual tax rate may vary based on your total income, deductions, and state of residence.

What expenses can I deduct from my side hustle income?

Common deductible expenses include: marketing and advertising costs, software subscriptions, equipment and supplies, travel expenses, home office expenses, professional development, and insurance. Keep detailed records and receipts for all business-related expenses.

Do I need to pay quarterly estimated taxes?

If you expect to owe $1,000 or more in taxes from your side hustle, the IRS requires you to make quarterly estimated tax payments. These are due April 15, June 15, September 15, and January 15 of the following year.

How does self-employment tax work?

Self-employment tax is 15.3% of your net earnings, covering both the employer and employee portions of Social Security (12.4%) and Medicare (2.9%). You can deduct half of this tax on your income tax return.