Hi!
I am about to accept job on 1099. Expected early income would be about $90,000.00
I would like to know what percentage of tax will I pay in each categary.
I am a resident of Illinois state.

Example: State, Federal, Medicare, Social Security, etc.

Please let me know asap.
Thanks,

That's a tough one to answer because it is unknown what your net income will be after your expenses are deducted for your job. A good rule of thumb is to deposit quarterly about 35% for taxes. This would give a broad coverage of 20% for federal income tax and 15% self-employment taxes. But again, it will depend on what your net income will be. You may end up paying a little more at the end of the year or your may end up with a refund, but this should cover the bulk of your tax liablity.

35% s a GOOD rule of thumb, but I would withhold 40%, because you are Squarely in the 25% marginal tax bracket.