🧮 WHAT-IF CALCULATOR
See how financial decisions affect your tax bill. Adjust the sliders and watch your savings change in real time.
Your Monthly Net Income (starting point)
Current Annual Tax
$16,500
Without Changes
$16,500
Total Savings
$0
With Changes
$16,500
Select scenarios below to see combined impact → hover or click any card
Max Out SEP-IRA
Self-employed retirement account. Contribute up to 25% of net income (max $66,000/year). Reduces taxable income dollar for dollar.
$0
$0
$66K
Annual Tax Savings
$0
Buy Business Equipment
Section 179 lets you deduct the full cost of equipment in the year of purchase. Laptop, camera, tools, medical equipment — all qualify.
$0
$0
$20K
Tax Savings
$0
Set Up Home Office
Dedicate a space for work. Deduct % of rent, utilities, internet based on sq footage. $300-800/month typical deduction.
$0
$0
$1,500/mo
Annual Tax Savings
$0
Get Health Insurance
Self-employed health insurance premiums are 100% deductible. Average individual plan: $400-600/month. Family: $1,200-1,800/month.
$0
$0
$2,000/mo
Annual Tax Savings
$0
Track Your Mileage
IRS rate: 67¢/mile in 2024. Most gig workers and healthcare professionals drive thousands of deductible miles per year.
0
0 miles
30K
Annual Tax Savings
$0
Hire a Subcontractor
Payments to subcontractors are fully deductible as a business expense. Reduces your net income and tax bill significantly.
$0
$0
$50K
Tax Savings
$0
Open an HSA Account
Health Savings Account contributions are tax-deductible. 2024 limits: $4,150 (individual), $8,300 (family). Triple tax advantage!
$0
$0
$8,300
Tax Savings
$0
Track Business Meals
Business meals with clients, colleagues, or for work-related purposes are 50% deductible. Keep receipts and note the business purpose.
$0
$0
$1,000/mo
Annual Tax Savings
$0
Business Travel
Flights, hotels, and transportation for business purposes are 100% deductible. Conferences, client visits, training — all qualify.
$0
$0
$20K
Tax Savings
$0
Education & Training
Courses, certifications, and professional development related to your work are fully deductible. Online courses, workshops, seminars.
$0
$0
$10K
Tax Savings
$0
Rent Office Space
External office or studio rent is 100% deductible as a business expense. Better than home office if you need a dedicated workspace.
$0
$0
$3,000/mo
Annual Tax Savings
$0
Elect S-Corp Status
If earning $80K+/year, forming an S-Corp can save thousands in self-employment tax. Pay yourself a reasonable salary, take rest as distributions. No savings below $80K/year.
⚠️ S-Corp has setup costs and ongoing requirements. Consult a CPA before electing S-Corp status.
$0
$0
$300K
Estimated SE Tax Savings
$0
Professional Subscriptions
Software, apps, professional memberships, and journals used for work are fully deductible. Adobe, Slack, LinkedIn Premium, industry associations.
$0
$0
$500/mo
Annual Tax Savings
$0