Federal Income Tax Calculators

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Details: Category: Individual Taxes; Written by Madeline Delanni; Hits: 1527

Like death, taxes are unavoidable. With proper planning you can make things easier on yourself and your family. Your annual tax liability can be very uncertain but there are several online calculators to help determine your estimated tax liability along with your average and marginal tax rates.

Money Chimp

This calculator from MoneyChimp is straightforward and easy to use. You don’t need to be a CPA to figure this out.

http://www.moneychimp.com/features/tax_brackets.htm

Calc XML

This one is more complicated because you need to know the amounts of your IRA contribution, itemized deductions and personal exemptions. However, because this calculator requires those additional pieces of information, the end result is likely to be more accurate.

http://www.calcxml.com/calculators/federal-income-tax-estimator

Complete Tax

This calculator hosted by CompleteTax has several steps and requires you to input quite a bit of information in order to calculate your estimated federal income tax. It’s part of a system for filing your taxes online but you can use the calculator without using their filing system.

http://www.completetax.com/income-tax/calculators/federal.asp

e-File

Efile is another website for filing income taxes online but you can use their calculator without buying any of their other services. Again, you need to have a lot of information at your fingertips or this calculator will be of no use.