Expense Deduction Calculator

See how business expenses reduce your taxable income and save on taxes. Track deductions for home office, vehicle, equipment, and more.

See how business expenses reduce your taxable income and save on taxes

Gross Annual Income ($)

Mileage (miles)

@ $0.655/mile (2024)

Home Office ($)

Equipment ($)

Supplies ($)

Other Expenses ($)

State

Filing Status

Self-employed workers pay 15.3% in self-employment tax (vs. 7.65% for W-2 employees)
Quarterly estimated tax payments are due: April 15, June 16, September 15, and January 15 (2025: April 15, June 16, September 15, January 15, 2026)
Track all business expenses - they reduce your taxable income and save you money
Keep detailed records of income from all sources (Uber, freelance, side gigs)
Consider opening a separate business bank account to track income and expenses easily
Set aside 25-30% of income for taxes to avoid surprises at tax time