Income Tax Calculator
Calculate your estimated federal income tax liability
Income Tax Calculator
Calculate your estimated federal income tax using current tax rates and brackets. This calculator provides a simplified estimate for planning purposes and supports various filing statuses.
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Tax Breakdown
đ Understanding Income Tax
Tax Brackets
The U.S. uses a progressive tax system with different tax rates for different income levels. Your marginal tax rate is the rate on your last dollar of income.
Deductions
You can choose between the standard deduction or itemizing deductions. The standard deduction is often simpler and may be more beneficial for many taxpayers.
Tax Credits
Tax credits directly reduce your tax liability dollar-for-dollar, making them more valuable than deductions which only reduce taxable income.
Important Disclaimers
Estimation Only: This calculator provides estimates for planning purposes only. Actual tax calculations may vary based on specific circumstances, additional income sources, and various deductions or credits not included in this simplified calculator.
Professional Advice: For complex tax situations, significant income changes, or important financial decisions, consult with a qualified tax professional or CPA.
Current Tax Law: Calculations are based on current federal tax law and standard deduction amounts. Tax laws may change, and this calculator may not reflect the most recent updates.