Federal Income Tax

Calculators

Albert Einstein was attributed as saying, "The hardest thing in the world to understand is the income tax." Use the following calculator to help get a rough estimate of your tax liability.

Personal Tax Information

Tax filing status

Taxable gross annual income subject to ordinary income rates (W-2, unearned/investment, business income not eligible for 20% exemption amount, etc) ($)

Traditional IRA Contribution ($)

Itemized deductions (state/local and property taxes capped at $40,000) - $0 for Standard ($)

Number of dependent children under 17 with SS# (age 0 to 16)

Number of non-child dependents (0 to 15)

Amount of gross income considered "unearned"/investment income ($)

Are you (and your spouse if filing jointly) either blind or over age 65?

Business/Self-Employed Income

Total company pass-through income ($)

Individual company ownership (0% to 100%)

Total company capital assets ($)

Total company W-2 wages ($)

This calculator provides an estimate of your total taxes. It should not be used as a final determination of your federal tax liability; consider working with a tax professional for specific information regarding your individual situation. Whether you are eligible for a tax refund or required to pay addition taxes would depend on a variety of factors, including withholdings, taxes paid, and tax credits. Alternative minimum tax was not considered with this calculator.

Calculators For Websites

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information and should not be considered a solicitation for the purchase or sale of any security.