Tax Freedom Day

Calculators

It might surprise you to learn how many days you may have to work to pay your estimated federal tax liability (including Social Security tax withholdings). Use this calculator to estimate your Tax Freedom Day -- the day you begin earning money for yourself.

Income and Tax Information

Tax filing status

Taxable gross annual income subject to ordinary income rates (W-2, unearned/investment, 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# (0 to 15)

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?

Are you self-employed?

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 is a hypothetical example used for illustrative purposes only. This calculator provides projections based on certain assumptions. It is not intended to provide specific investment advice. Please consult a tax professional for specific information regarding your individual situation.

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.