Self-Employed Senior Bonus Calculator
For 65+ consultants, contractors, and gig workers.
The short answer: At the numbers below, the deduction is $12,000 — $1,440 back at 12% ($55 per paycheck).
Must be 65+ to qualify
Modified Adjusted Gross Income
Senior Bonus Deduction
$12,000
✅ You qualify for the full deduction
⚠️ This calculator provides estimates for informational and educational purposes only. It is not tax advice. Results are based on the One Big Beautiful Bill Act (OBBBA) and IRS Schedule 1-A. Consult a qualified tax professional for your specific situation.
SE Income Is Ordinary MAGI
Net self-employment income feeds MAGI directly — successful 65+ consultants can phase themselves out.
- • Net SE profit → MAGI → phase-out risk
- • QBI deduction doesn't reduce MAGI for this test
- • S-corp salary + distributions both count
Worked Example
MFJ consultant couple, $125,000 MAGI.
- • Deduction $12,000; savings $1,440 at 12%
Keep Reading
Frequently Asked Questions
Do self-employed seniors get the $6,000 deduction?
Yes at 65+ — but SE income is MAGI, and high profits can phase it down.
Does the QBI deduction shelter MAGI here?
No — QBI reduces taxable income, not the MAGI that drives this phase-out.