Playing gigs for money? See roughly what to set aside for taxes after mileage and gear deductions — before the IRS sees it first.
A planning estimate using federal SE + marginal income tax — not tax advice. State tax, QBI, and your full return can move the real number; confirm with a tax professional.
Yes — gig pay is self-employment income, whether it arrives as cash, check, Venmo, or through a booking platform, and whether or not anyone sends you a 1099. If your net profit from gigging is $400 or more for the year, you also owe self-employment tax on top of regular income tax. Playing music for money is a business in the IRS's eyes, even if it's your side hustle.
A common rule of thumb is 25–30% of net gig profit, which covers self-employment tax (15.3%) plus federal income tax at typical brackets. The estimator above sharpens that for your numbers — after mileage and gear deductions, many part-time gigging musicians land closer to 20–25% of gross. Set it aside per gig and quarterly payments stop hurting.
The big ones: mileage to rehearsals and gigs at the IRS standard rate, instruments and gear (strings, cables, pedals — larger purchases may be depreciated), repairs, lessons and courses, home practice space in some cases, stage clothes that aren't everyday wear, software subscriptions, and booking or payment-app fees. Deductions reduce the profit that gets taxed, so tracking them is real money.
It's the 15.3% Social Security and Medicare tax that an employer would normally split with you — as a self-employed musician you pay both halves, applied to 92.35% of your net profit. It's owed on top of regular income tax, which is what surprises most first-year gig musicians. Half of it is deductible against your income tax, which the estimator accounts for.
Payment apps issue a 1099-K above the IRS reporting threshold for business payments, and venues that pay you $600+ directly may issue a 1099-NEC. But the reporting form doesn't change what you owe — all gig income is taxable regardless of whether a form shows up. Keep your own records; they're also how you prove your deductions.
No — it's a free planning estimate for federal self-employment and income tax, with no signup. State taxes, the QBI deduction, and the rest of your return all shift the real number, so confirm with a tax professional. When the gig money actually comes in, our free pay-split calculator can hold back your tax percentage off the top before the band divides the rest.