2026 Calculator
Side Hustle Tax Calculator
Calculate taxes on your gig income
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This estimate is based on projected 2026 data and industry averages. Actual premiums vary by insurer, location, and individual factors. Consult a licensed insurance agent for accurate quotes.
*Based on estimated 2026 projections. Data may not reflect real-time legislative changes.
FAQ
How is side hustle income taxed?
Side hustle income is subject to self-employment tax (15.3% for Social Security and Medicare) plus regular income tax based on your bracket. You pay both employer and employee portions of FICA. You must file if you earn $400+ from self-employment.
Do I need to pay quarterly taxes?
If you expect to owe $1,000+ in taxes from your side hustle, you should pay quarterly estimated taxes (due April 15, June 15, September 15, January 15). Use Form 1040-ES. Failure to pay quarterly can result in underpayment penalties.
What side hustle expenses can I deduct?
Common deductions include mileage (70¢/mile for 2026), phone/internet (business %), home office, equipment, supplies, software subscriptions, and professional services. Keep detailed records. Deductions reduce your taxable income.