W-2 vs 1099 Calculator
Compare employee vs independent contractor offers side-by-side to see which makes you more money.
W-2 vs 1099 Calculator
W-2 Employee Offer
$
$
1099 Contractor Offer
$
*Standard 40-hr year = 2,080. Freelancers avg 1,900.
Difference in Take-Home Value$6,938
Winner: 1099 Offer
W-2 Gross + Benefits$100,000
W-2 Est. Taxes-$19,253
W-2 Net Value$80,748
1099 Gross Income$123,500
1099 Est. Taxes (Inc. SE)-$35,815
1099 Net Value$87,685
Looking to save on 1099 taxes?
Find out exactly how much an S-Corp election can save you on Self-Employment taxes.
Frequently Asked Questions
As a general rule of thumb, you should multiply a W-2 hourly rate by at least 1.3x to 1.5x to find the equivalent 1099 rate. If you made $40/hr as an employee, you should charge at least $60/hr as a freelancer just to maintain the exact same standard of living.
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Winner Difference
$6,938