Hourly rate or average pay per hour ($)

Hours per week

Monthly expenses for this hustle ($) gas, supplies, platform fees

Estimated income tax bracket (%) federal + state, for a fuller estimate

Estimated monthly take-home

—

Gross monthly earnings —

− Business expenses —

− Self-employment tax (15.3%) —

− Estimated income tax —

Estimated take-home —

Why self-employment tax catches people off guard: As a self-employed side hustler, you owe both the employee and employer share of Social Security and Medicare — 15.3% total — on top of regular income tax. A W-2 job automatically withholds only your half; nobody withholds any of it for side hustle income, so it's easy to spend money you'll actually owe at tax time.

This is an illustrative estimate, not tax advice. Self-employment tax is calculated on 92.35% of net earnings at 15.3% (Social Security + Medicare), the standard formula for most side hustle income levels. Actual tax owed depends on your full tax situation, deductions, and filing status. Consult a tax professional for your specific numbers.

How This Calculator Works

Most side hustle articles (including some of our own) quote a gross hourly or per-task rate — but that's before taxes, and side hustle income is self-employment income, which is taxed differently than a regular paycheck. This calculator walks through the real waterfall: your gross earnings, minus any expenses specific to the hustle, minus self-employment tax (Social Security and Medicare, which a W-2 employer normally splits with you but a self-employed person pays in full), minus an estimate of regular income tax on what's left.

For a full breakdown of the actual math behind self-employment tax, see our guide to making extra money and how it interacts with your overall taxes.