Independent business consultants, management consultants, and strategy advisors. Calculate your federal, state, and self-employment taxes with deductions specific to business consultants.
Using California tax rates. Select your state for accurate estimates.
Dedicated consulting workspace
Client site visits, conferences
Business meals and events
Certifications, memberships
CRM, project management, analytics
E&O insurance
💡 Tip: Track all business expenses throughout the year. These deductions can save you thousands in taxes.
Business meals are 50% deductible
Travel must be primarily for business to deduct
Conference fees and related travel are fully deductible
Professional memberships and certifications are deductible
Entry Level
$60,000
~$15,000 in taxes
Median Income
$110,000
~$30,800 in taxes
Top Earner
$300,000
~$96,000 in taxes
Tax estimates assume single filer with standard deduction. Actual taxes depend on deductions, state, and filing status.
Business Consultants typically pay 25-35% of their net income in taxes. This includes self-employment tax (15.3%), federal income tax (10-37%), and state income tax (0-13% depending on your state). With a median income of $110,000, expect to pay roughly $30,800 in annual taxes before deductions.
Common deductions for business consultants include: home office, travel, client entertainment, professional development, and more. These deductions can reduce your taxable income significantly.
Yes, if you expect to owe $1,000 or more in taxes as a business consultant, you must make quarterly estimated tax payments. Due dates are April 15, June 15, September 15, and January 15.
Business Consultants file Form 1040 with Schedule C (business income) and Schedule SE (self-employment tax). You'll receive 1099-NEC forms from clients who paid you $600 or more.
Use accounting software or an app like WorkMade to automatically categorize your business consultant expenses. Keep receipts for all business purchases and track mileage if you drive for work.
WorkMade automatically tracks your income, finds business consultant-specific deductions, and calculates quarterly taxes. Real tax pros. Zero upfront.
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