Do locum tenens doctors pay less in taxes?
Let’s find out!
Now you can estimate your 2020 taxes online. This calculator gives an estimate of self-employment/FICA, federal tax and includes locum tenens tax deductions.
Just enter the numbers below to figure out how much you owe Uncle Sam.
To estimate any state’s income tax, check out this site.
Also, check out my detailed locum tenens tax deductions post.
Disclaimer: this calculator is for tax estimation purposes only. Seek professional advice for detailed tax review and preparation.
This calculator uses standard deduction only.
This calculator doesn't include: State and local income taxes and capital gain calculations
This calculator uses standard deduction only.
This calculator doesn't include: State and local income taxes and capital gain calculations
Filing Status
Total W2 income
Total income as an employee
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401K/403B contributions
Employer-sponsored retirement plan contributions
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Total 1099 income
Total independent contractor/locum tenens income
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Self employed IRA
Your retirement plan - can be used in addition to 401k if you have both W2 and 1099 income. Limited to $56000 or 25% of your 1099 income
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Independent Contractor/Locum tenens expenses
Examples: education, licensing, supplies etc.
Detailed expenses input on/off
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Detailed expenses input:
Education and training expenses
E.g.: BLS/ACLS, CME fees, journal subcription
Licensing fees
E.g. License renewal, license verification, fingerprinting fees
Travel Expenses (unreimbursed)
E.g. Hotel, airfare
Professional services
E.g. CPA fees for advice and tax preparation, Attorney fees for contract review
Equipment
E.g. Laptop, printer, cell phone
Communication
E.g. Cell phone, internet
Supplies
E.g. Postage, printer ink, office paper
Uniform
E.g. Cost of labcoats, scrubs, laundry services
Self employed Health Insurance Premiums
Your monthly health insurance payments (if not using employer's insurance). It exludes copayments, deductibles and other payments you made for healthcare services other than monthly payments
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Number of dependent children
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Total Estimated 2019 Tax
Social security and Medicare Tax:
Additional Medicare Tax:
Federal tax:
Total Tax:
Your income before taxes:
Your income after taxes:
Average tax rate:
