Degree & bootcamp payback
See how many years a degree, bootcamp, or trade school takes to pay back. Counts tuition, student loan interest, lost wages, and your pay bump.
True after-tax hourly profit
$14.60/hr
Down from $30.00/hr gross active ($19.39/hr pre-tax cash)Example calculationBelow $22.00/hr W-2 benchmark
While $450/week over 15 active hours looks like $30.00/hr gross, adding 4 unpaid hours per week, $3,379/yr in real vehicle costs, $540/yr in supplies, and $4,370/yr in self-employment and income taxes brings your real take-home pay to $14.60/hr ($1,109/mo net). That is $7.40/hr ($6,753/yr) below a $22.00/hr after-tax W-2 alternative. You would need $642/week in gross revenue to clear $22.00/hr net.
True net hourly (all hours)
$14.60/hr
$19.39/hr pre-tax cash | $30.00/hr grossMonthly net take-home
$1,109.23
$13,310.71/yr ($277.31/wk net)Quarterly tax set-aside
$1,092.52
$4,370.09/yr tax (24.7% of cash profit)Break-even weekly gross
$642/wk
-$6,753/yr vs $22.00/hr W-2 optionAnnual cash & IRS Schedule C waterfall (48 weeks / 912 total hours)
| Line item | Annual total | Per month | Per total hour (912 hrs) |
|---|---|---|---|
| Gross revenue after platform fees | $21,600.00 | $1,800.00 | $23.68/hr |
| Real cash vehicle cost (10,560 mi @ $0.32/mi) | -$3,379.20 | -$281.60 | -$3.71/hr |
| Supplies, software & other expenses | -$540.00 | -$45.00 | -$0.59/hr |
| Pre-tax cash operating profit | $17,680.80 | $1,473.40 | $19.39/hr |
| IRS Schedule C net profit (after $7,392 mileage deduction) | $13,668.00 | $1,139.00 | $14.99/hr |
| Self-employment tax (15.3% on 92.35% of Schedule C) | -$1,931.23 | -$160.94 | -$2.12/hr |
| Federal + state income tax (after 1/2 SE & $2,540 QBI) | -$2,438.86 | -$203.24 | -$2.67/hr |
| True after-tax net profit | $13,310.71 | $1,109.23 | $14.60/hr |
How weekly gross revenue changes your real hourly wage ($250 to $1,100/wk)
Compare headline gross hourly pay against pre-tax cash profit and true after-tax net hourly pay:
| Weekly gross | Gross $/active hr | Pre-tax cash $/hr | True net $/hr (all hrs) | Annual net profit |
|---|---|---|---|---|
| $250/wk | $16.67/hr | $8.86/hr | $7.79/hr | $7,108.13 |
| $350/wk | $23.33/hr | $14.12/hr | $11.20/hr | $10,209.42 |
| $450/wk (current) | $30.00/hr | $19.39/hr | $14.60/hr | $13,310.71 |
| $600/wk | $40.00/hr | $27.28/hr | $19.70/hr | $17,962.65 |
| $750/wk | $50.00/hr | $35.18/hr | $24.80/hr | $22,614.59 |
How this calculator works
Gig apps and side hustles advertise gross revenue per active hour, which leaves out three major deductions from your wallet: unpaid overhead hours (waiting for orders, driving back empty, answering client messages, bookkeeping), real cash vehicle wear and supplies, and self-employment plus income taxes. We separate your real cash vehicle cost ($0.32/mile for gas, tires, maintenance, and mileage depreciation) from the IRS standard mileage deduction ($0.70/mile) so you see both your actual cash profit and your exact IRS Schedule C and Schedule SE tax bill.
What to watch out for
Unlike a W-2 paycheck where your employer pays half of Social Security and Medicare and withholds income tax automatically, 1099 side-hustle profit carries the full 15.3% self-employment tax (on 92.35% of Schedule C net earnings) stacked on top of your marginal federal and state income tax bracket. Set aside your quarterly estimated tax amount in a separate savings account so April tax season never catches you off guard.
Frequently asked questions
Why are there two different mileage rates in this calculator?
The IRS standard mileage rate ($0.70/mile) is a tax deduction that lowers your taxable Schedule C profit. Your real cash vehicle cost ($0.25 to $0.40/mile for fuel, oil, tires, brakes, and mileage-driven depreciation) is what actually leaves your bank account. Because the IRS deduction is higher than marginal fuel and wear on most economy cars, high-mileage drivers shelter a significant share of their cash profit from tax while still paying real vehicle wear.
How does the 20% Qualified Business Income (QBI) deduction work?
Under IRS Section 199A, sole proprietors and 1099 contractors can deduct 20% of their qualified business income (after subtracting half of self-employment tax) from federal taxable income. The QBI deduction reduces federal income tax, though it does not reduce the 15.3% self-employment tax.
What changes if my main W-2 job already exceeds the Social Security wage cap?
If your W-2 salary already exceeds the annual Social Security wage base ($176,100), you have already maxed out the 12.4% Social Security tax for the year. Your side-hustle self-employment tax drops from 15.3% down to the 2.9% Medicare portion (plus 0.9% Additional Medicare Tax if your total income exceeds $200,000 single / $250,000 joint).
Benchmark sources and dates
Starting assumptions are example benchmarks, not binding quotes. Change any input to match your own bills or offers.
| Assumption / Input | Starting value | Source | Checked |
|---|---|---|---|
| Self-employment tax rate and 92.35% net earnings factor | 15.3% SE tax on 92.35% of Schedule C net | Internal Revenue Service Schedule SE and Publication 334 | 2026-01-15 |
| Qualified Business Income (QBI) deduction | 20% Section 199A deduction | Internal Revenue Service Qualified Business Income Deduction | 2026-01-15 |
| IRS standard mileage deduction vs real cash vehicle cost | $0.70/mile IRS deduction; $0.32/mile cash | Internal Revenue Service Standard Mileage Rates | 2026-01-01 |
| Typical gig and side-hustle weekly hours and gross revenue | $450/week across 15 active + 4 unpaid hours | Federal Reserve Survey of Household Economics and Decisionmaking | 2025-11-15 |