Guide
Independent contractor musicians generally pay income tax and self-employment tax on net business profit. GigLog helps you stay organized and estimate what you may owe.
GigLog provides recordkeeping and tax estimates. It is not a CPA, attorney, or tax advisor. Tax rules change—confirm with a qualified professional and official government sites linked on these pages.
Self-employment tax is Social Security and Medicare for people who work for themselves. Employees usually split those payroll taxes with an employer; independent contractors generally pay both halves (commonly discussed as about 15.3% on net earnings, subject to Social Security wage-base limits and Medicare rules). It’s calculated on Schedule SE and is in addition to regular income tax. You can usually deduct one-half of self-employment tax as an adjustment to income.
Official: IRS Self-Employed Tax Center.
How GigLog helps
Available now — Tax Planning estimates self-employment tax plus federal and state income-tax components from your logged activity and tax settings. Estimates are not a filed return.
Nobody withheld tax from your Venmo. You also pay the employer-equivalent half of Social Security/Medicare through self-employment tax. A common starting habit is to move about 25–30% of each payment into a separate tax savings account the day you’re paid, then adjust using last year’s return, your Tax Planning estimate, and your state. High earners and high-tax states often need more; people with large deductions or W-2 withholding may need less.
How GigLog helps
Available now — Live tax estimates so you see a dollar liability, not a vibe. Available now — Suggested set-aside % and $ in Quarterly Estimates (editable override in Tax Settings). Planning estimate only—not filing advice.
If your state has an income tax, net business income is usually taxable there too. Many states also want estimated payments during the year. Touring across state lines can create extra filing questions—ask a CPA if that’s your pattern.
Official: Use the IRS state government websites directory to find your state’s revenue department.
How GigLog helps
Available now — Tax Planning estimates for your home state (from Tax Settings / profile). Log venue locations for your records and multi-state discussions with your preparer—GigLog does not apportion tax by venue state.
Schedule C (Form 1040), Profit or Loss From Business, is where most sole-proprietor (and many single-member LLC) musicians report business income and expenses. Gross income minus expenses = net profit or loss, which then feeds your Form 1040 and self-employment tax calculations.
Official: IRS About Schedule C.
How GigLog helps
Available now — Income, tips, deductions, mileage, and Schedule C–oriented reports to prepare—not to replace—tax software or a preparer.
Schedule SE calculates self-employment tax on your net earnings from self-employment. It’s a separate schedule from Schedule C, but they work together.
How GigLog helps
Available now — Year-round estimates; your preparer finalizes Schedule SE on the filed return.
Sometimes called the Section 199A or QBI deduction, it may let eligible owners of pass-through businesses deduct up to 20% of qualified business income, with income limits and exceptions. Rules are complex—this is CPA territory.
How GigLog helps
Educational for eligibility. Available now for accurate net profit records your preparer uses as a starting point.
No. GigLog organizes bookings, income, expenses, and estimates so you or your tax preparer can file accurately using IRS-approved software or a professional.
Official: IRS Free File and payment pages for eligible taxpayers (see IRS.gov).
How GigLog helps
Tax-ready records—not e-file software.
No. Use GigLog for day-to-day capture and planning; use a tax professional for entity strategy, multi-state issues, elections, and filing.
How GigLog helps
Bring reports instead of a shoebox.
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GigLog helps musicians and freelancers manage bookings, earnings, tips, expenses, and tax estimates in one place.
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