finance calculator
Track side income, expenses, taxes, and net earnings.
Save this page to test different hourly models, rate changes, or expense budgets as your freelance or gig business grows.
Monthly net income
$2,700
Formula
Net income = revenue - expenses - tax reserveThe calculator subtracts expenses and a tax reserve from monthly revenue to estimate take-home income.
Step by step
Example
A side hustle earning $4,500 per month with $900 expenses and a 25% tax reserve produces about $2,700 in monthly net income.
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Summary
Monthly net
$2,700
Estimated net take-home.
Annual net
$32,400
Take-home over 12 months.
Tax reserve
$900
Reserved for taxes.
Net hourly
$33.75
Effective hourly wage.
D3 visualization
See the breakdown of monthly gross revenue across net profit, tax reserves, and expenses.
D3 visualization
Cumulative gross revenue compared against expenses, tax obligations, and net take-home earnings over a full year.
Guide
A side hustle is a great way to build income, but gross revenue can be misleading. Before you calculate your take-home pay, you must subtract expenses like software, subscriptions, or travel, and set aside a realistic tax reserve.
Self-employment income is subject to income tax and self-employment taxes. Using this calculator helps you estimate your real net income so you do not get surprised at tax time.
Self-employed workers are generally responsible for both the employer and employee portions of Social Security and Medicare taxes, plus regular income tax. Setting aside 25% to 30% of your net profits is a common guideline, though your individual tax situation may vary.
Self-employment tax
A tax consisting of Social Security and Medicare taxes primarily for self-employed individuals.
Tax write-off
An eligible business expense that can be deducted from gross income to reduce total taxable profit.
Any ordinary and necessary cost to run your business, such as advertising, office supplies, software subscriptions, or business mileage.
Unlike standard employment where taxes are withheld from each paycheck, side hustle income is paid gross, and you must pay income and self-employment taxes directly.