1099 take-home 2026: $50,000 → $39,539.11 (single)
$50,000 net profit, single: SECA $7,064.78 + income tax $3,396.11 = $39,539.11. Quarterly estimate $2,615.22.
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$50,000 net profit, single: SECA $7,064.78 + income tax $3,396.11 = $39,539.11. Quarterly estimate $2,615.22.
2026 SECA tax: $50,000 net → $7,064.78 (SS $5,725.70 + Medicare $1,339.08). 15.3% on 92.35% of net earnings.
IRS 2026 SIMPLE elective deferral $17,000. Catch-up age 50+ is $4,000. Not the regular $24,500 401(k) cap.
Full retirement age by birth year + early-at-62 cut (SSA 5/9% rule). Born 1960 with $2,000 gets $1,400 at 62.
2026 federal standard deduction (Rev. Proc. 2025-32 §2.14)
IRS 2026 standard mileage deduction or reimbursement for one trip: business, medical, moving, or charitable. Mid-year rate change included.
IRC §195 deducts up to $5,000 of start-up expenditures immediately, $1-for-$1 phase-out over $50,000, remainder amortized over 180 months. $40,000 → $5,000 now + $35,000/180 mo.
U.S. federal tip credit for one workweek: cash wage + tips must reach $7.25/hour. If they do not, the employer makes up the difference (FLSA).
Figures how much of your 2026 traditional IRA contribution is deductible from your MAGI and workplace plan coverage (IRS Notice 2025-67, section 219(g)).