Income

[expand title=”What is my potential estate tax liability?” trigclass=”noarrow” tag=”h3″]

In 2014 estates worth up to $5.34 million will be excluded from paying federal estate tax. This means that the federal government could ‘inherit’ a significant portion of your estate unless you take measures to preserve your wealth. Use this federal estate tax calculator to estimate your tax liability.

Assets/Liabilities and Assumptions

	Value	Growth	Liability
Personal assets ($)
Investment assets ($)
Business assets ($)

Assumptions

Charitable contributions ($)

Probate and final expenses (% of gross estate) (%)

Years to project estate growth

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[expand title=”Federal income tax estimator” trigclass=”noarrow” tag=”h3″]

2014 federal income tax calculator

Taxes are unavoidable and without planning, the annual tax liability can be very uncertain. Use the following calculator to help determine your estimated tax liability along with your average and marginal tax rates.For “high-income” workers you may experience an increase in your 2014 federal taxes going forward due to a number of new provisions such as personal exemption phaseouts, limits to itemized deductions, 3.8% Medicare tax on investment income and the creation of a new tax bracket (39.6%).


Income and Tax Information
Tax filing status
Gross annual income ($)
Amount of gross income considered ‘unearned’/investment income ($)
Qualified plan/IRA contribution ($)
Itemized deductions – $0 for standard ($)
Number of personal exemptions
Number of dependent children

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[expand title=”Should I adjust my payroll withholdings?” trigclass=”noarrow” tag=”h3″]

Each April many taxpayers are surprised as they realize that they have either over withheld or under withheld on their taxes. Use this calculator each year to help determine whether you are likely to be on target based on your current withholding status. Make adjustments to your employer W-4 form, if necessary, to more closely match your liability. In the event of a surplus, you may be able to increase your take home pay.”High-income” workers may experience an increase in federal taxes due to a number of provisions such as personal exemption phaseouts, limits to itemized deductions, 3.8% Medicare tax on investment income and the creation of a new tax bracket (39.6%).


Income and Tax Information
Tax filing status
Gross annual income ($)
Amount of gross income considered ‘unearned’/investment income ($)
Qualified plan/IRA contribution ($)
Itemized deductions – $0 for standard ($)
Number of personal exemptions
Number of dependent children
Federal taxes withheld to date ($)
Number of allowances claimed on W-4
Payment frequency

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[expand title=”Will my investment interest be deductible?” trigclass=”noarrow” tag=”h3″]

Interest paid on debts incurred in order to invest (such as ‘margin accounts’) is generally deductible to the extent that it offsets investment income (such as interest, dividends and short term capital gains). Interest payments in excess of investment income can be carried forward in hopes of offsetting future investment income. This calculator can help you better manage the use of debt as an investment tool, and more accurately time your income and interest payments to take best advantage of current deductibility laws and limitations.


Federal Income Tax Information
Marginal tax bracket (%)
Investment Interest You Receive
Dividend income ($)
Interest income ($)
Short-term capital gains ($)
Investment Interest You Pay
Margin account interest ($)
Other investment interest ($)

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[expand title=”How much self-employment tax will I pay?” trigclass=”noarrow” tag=”h3″]

Self employment taxes are comprised of two parts: Social Security and Medicare. You will pay 6.2 percent and your employer will pay Social Security taxes of 6.2 percent on the first $117,000 of your covered wages. You each also pay Medicare taxes of 1.45 percent on all your wages – no limit. If you are self-employed, your Social Security tax rate is 12.4 percent and your Medicare tax is 2.9 percent on those same amounts of earnings but you are able to deduct the employer portion. You will pay an additional 0.9% Medicare tax on the amount that your annual income exceeds $200,000 for single filers, $250,000 for married filing jointly, and $125,000 married filing separate. Use this calculator to estimate your self-employment taxes.


Wage Information
Annual self-employment income ($)
Annual employer income (already taxed) ($)
Tax filing status

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[expand title=”Capital gains (and losses) tax estimator” trigclass=”noarrow” tag=”h3″]

Federal taxes on your net capital gain(s) will vary depending on your marginal income tax bracket and holding period of the asset. Use this calculator to help estimate capital gain taxes due on your transactions.


Assumptions
Federal marginal tax bracket
Asset Transaction #1
Purchase price ($)
Sales price ($)
Holding period
Asset Transaction #2
Purchase price ($)
Sales price ($)
Holding period
Asset Transaction #3
Purchase price ($)
Sales price ($)
Holding period
Asset Transaction #4
Purchase price ($)
Sales price ($)
Holding period

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[expand title=”Compare taxable, tax-deferred and tax-free investment growth” trigclass=”noarrow” tag=”h3″]

Investment vehicles are taxed differently. This calculator is intended to help compare a fully taxable investment to two tax advantaged situations. In one situation, an investment account is not taxed until the money is withdrawn. In the second scenario, the money is an investment that is not subject to Federal or State tax.


Savings and Assumptions
Current investment balance ($)
Annual contributions ($)
Number of years to invest
Before-tax return on fully-taxable investment (%)
Before-tax return on tax-deferred investment (%)
Return on tax-free investment (%)
Marginal tax bracket (%)

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[expand title=”How much of my Social Security benefit might be taxable?” trigclass=”noarrow” tag=”h3″]

How much of my social security benefit may be taxed?

Did you know that up to 85% of your Social Security Benefits may be subject to income tax? If this is the case you may want to consider repositioning some of your other income to minimize how much of your Social Security Benefit may be taxed and thereby, maximize your retirement income sources.


Income and Tax Information
Tax filing status
Marginal tax bracket (%)
Calculating ‘Modified’ Adjusted Gross Income
Long-term capital gains/losses (-) ($)
Short-term capital gains/losses (-) ($)
Dividends ($)
Taxable interest ($)
Tax-free interest ($)
Pension benefits ($)
IRA distributions ($)
Roth IRA distributions ($)
Other taxable income ($)
Wages ($)
Self-employed income/loss (-) ($)
Deductible IRA contributions ($)
Social Security Benefits
Social Security received ($)

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[expand title=”What are the tax implications of paying interest?” trigclass=”noarrow” tag=”h3″]

Interest paid may or may not be tax-deductible depending on the type of interest paid. Use this calculator to help determine what, if any, interest you pay this year may be deductible and to what extent it may save you on taxes.


Federal Income Tax Information
Marginal tax bracket (%)
Home Mortgage Interest
First mortgage interest ($)
Second mortgage interest ($)
Home equity loan interest ($)
Investment Interest
Investment interest you PAID ($)
Interest and dividends you RECEIVED ($)
Short-term capital gains/losses (-) ($)
Business Debt Interest
Business debt interest ($)
Personal Debt Interest
Credit card interest ($)
Auto loan interest ($)
Other personal debt interest ($)

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[expand title=”Should I itemize or take the standard deduction?” trigclass=”noarrow” tag=”h3″]

If you have numerous itemized deductions such as mortgage interest, charitable contributions, etc., it may make sense for you to itemize your deductions instead of using the standard deduction for your tax filing status. Use this calculator to help you make that decision.


Input and Assumptions
Estimated AGI (adjusted gross income) ($)
Tax filing status
Number of blind filers
Number of filers over age 65
Dental and Medical Expenses
Medical expenses ($)
Dental expenses ($)
Taxes You Paid
State and local income taxes ($)
Real estate taxes ($)
Personal property taxes ($)
Other taxes ($)
Interest (Paid/Received)
Home mortgage interest and points ($)
Investment interest and dividends received ($)
Investment interest you paid ($)
Charitable Contributions
Cash contributions ($)
‘In-kind’ contributions ($)
‘Carryover’ contributions ($)

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[expand title=”What is my tax-equivalent yield?” trigclass=”noarrow” tag=”h3″]

Tax-free investments such as municipal bonds have lower yields due to their tax-exempt status. Use this calculator to determine an equivalent yield on a taxable investment. The higher your marginal tax bracket (state and federal), the higher the tax-equivalent yield.


Rates and Assumptions
Tax-free yield (%)
Federal marginal tax bracket (%)
State marginal tax bracket (%)

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[expand title=”What is the amount of my 2013 rebate check?” trigclass=”noarrow” tag=”h3″]

2014 tax refund estimator

Did you withhold enough in taxes this past year? Use this calculator to help determine whether you might receive a tax refund or still owe additional money to the IRS. Remember this is just a tax estimator so you should file a proper tax return to get exact figures.For “high-income” workers you may experience an increase in your 2014 federal taxes going forward due to a number of new provisions such as personal exemption phaseouts, limits to itemized deductions, 3.8% Medicare tax on investment income and the creation of a new tax bracket (39.6%).


Income and Tax Information
Tax filing status
Gross annual income ($)
Amount of gross income considered ‘unearned’/investment income ($)
Qualified plan/IRA contribution ($)
Itemized deductions – $0 for standard ($)
Number of personal exemptions
Number of dependent children
Federal taxes withheld ($)