Related Posts
Additional Posts in FIRE Financial Independence Retire Early
Looking for advice to stop spending $$...
401k Roth or traditional 401k?
New to Fishbowl?
Download the Fishbowl app to
unlock all discussions on Fishbowl.
unlock all discussions on Fishbowl.






Don’t use chatgpt for anything involving math
I know, but I just tried it to see what it does.
In general, if you are 1099 then wouldn't your gross income be whatever cash/payment you receive? I'm not sure how a calculator is going to help you here.
If you are trying to get the taxable income you'll have to figure out what your expenses are and subtract from the above. Or am I misreading the question?
Yes - self employment tax is an issue and I’m estimating it to be about 30% but I wanted to see if there’s a way to figure out how much to deduct to reduce the taxable income. That’s what I used ChatGPT for bc my account would be charging $300+
As for expenses - I don’t have many. I put some in an IRA, the rest is internet, LinkedIn cost, subscriptions.
If you’re just starting out, probably not
There are a ton of calculators out there if you search 1099 contractor rate vs W2
So which one do you recommend