1099 vs W-2 · Virginia

1099 vs W-2 Calculator Virginia — $150K Salary

Compare take-home pay for a $150K salary in Virginia after federal income tax, state tax, self-employment tax, and the QBI deduction. Find your breakeven 1099 hourly rate.

Compare Your Offers

$
$/hr

Default: 40 hrs/week

Default: 52 weeks/year

Breakeven Hourly Rate

The minimum 1099 rate to match your W-2 offer

$73.08/hr

Side-by-Side Comparison

W-2 pays more

Difference: $10,718.27 per year

W-2

$105,413.62

1099

$94,695.35

Tax Breakdown

Gross Income
W-2$150,000.00
1099$135,200.00
Federal Income Tax
W-2$25,247.00
1099$14,388.12
FICA / Self-Employment Tax
W-2$11,475.00
1099$19,103.15
Virginia State Tax
W-2$7,864.38
1099$7,013.38
QBI Deduction
W-2N/A
1099-$22,129.68
Total Tax
W-2$44,586.38
1099$40,504.65
After-Tax Income
W-2$105,413.62
1099$94,695.35

Qualified Business Income (QBI) deduction: up to 20% of 1099 net business income — a tax advantage unique to independent contractors.

$150K Salary in Virginia — Pre-computed Comparison

W-2 gross income: $150000.00

W-2 after-tax income: $105413.62

W-2 total tax: $44586.38

W-2 effective tax rate: 30.0%

W-2 federal tax: $25247.00 (16.8% effective)

W-2 state tax (Virginia): $7864.38

1099 gross income: $135200.00

1099 after-tax income: $94695.35

1099 total tax: $40504.65

1099 effective tax rate: 30.0%

1099 self-employment tax: $19103.15

QBI deduction: $22129.68

Breakeven hourly rate: $73.08

Conclusion: W-2 is better by $10718.27