Estimate your self-employment tax, compare Sole Proprietor vs S-Corp, and see how deductions and retirement contributions affect your take-home pay.
IRS figures change every year. This calculator uses 2026 tax brackets, the 2026 Social Security wage base ($184,500), standard deductions, and retirement contribution limits. Numbers will shift in future tax years — always verify current IRS figures with your CPA.
Disclaimer: This calculator provides estimates for educational purposes only. It is not tax, legal, or financial advice. Consult a qualified CPA or tax professional before making any tax decisions. Locums One provides complimentary tax professional referrals for our physicians — contact us to get connected.
← Start here: enter your expected annual 1099 income
This affects your Social Security tax cap — important for accurate calculations.
Only include expenses that are NOT reimbursed by your agency.
Airfare, rental cars, rideshares, parking, tolls, baggage
Business miles driven or dollar amount
Hotels, Airbnb, apartment rent during assignments (not reimbursed by agency)
Per diem method or actual expenses (50% deductible)
State licenses, DEA, board cert, IMLC fees
Courses, conferences, travel to CME, subscriptions, journals
Only if you pay your own (most agencies cover this)
Medical, dental, vision, long-term care for you, spouse, dependents
2026 max: $4,300 individual / $8,750 family
Simplified method or actual expenses
Society dues, scrubs, equipment, laptop, phone, tax prep fees
Any other unreimbursed ordinary and necessary business expenses
2026 max: $24,500 (under 50)
Solo 401(k) employer contribution (auto-calculated)
$0
Calculated as ~20% of net SE income, capped so total doesn't exceed $72,000.
$7,500 contribution ($7,500 ) — not tax-deductible but grows tax-free
Annual contribution (typically $100K-$300K, requires actuary)
Based on estimated 10% marginal tax rate
Locums One connects our physicians with tax professionals who specialize in 1099 locum tenens income, multi-state filing, entity structuring, and retirement planning — free of charge. Whether you're filing for the first time or looking to optimize your structure, we'll match you with the right CPA.
This calculator provides rough estimates based on 2026 federal tax rates and is intended for educational and illustrative purposes only. It does not constitute tax, legal, or financial advice.
Actual tax liability depends on many factors not captured here, including state-specific rules, itemized deductions, AMT exposure, filing details, and individual circumstances. Always consult a qualified CPA or tax professional before making tax decisions. Tax laws change frequently — verify all rates and thresholds with the IRS or your tax advisor.
Locums One is not a tax advisory firm. We provide complimentary introductions to independent tax professionals as a service to our physicians. Contact us to get connected.