Income Tax Calculator

Annual Income $:

Deductions $:

Tax Credits $:

Filing Status:

Tax Year:

Tax Bracket Breakdown

Description

The Income Tax Calculator is a helpful tool for estimating your federal income tax liability based on your annual income, deductions, and tax credits. By entering your financial details, selecting your filing status, and choosing a tax year, the calculator provides an estimate of the tax you owe, helping you better prepare for tax season.

How to Use

Enter your annual income in the "Annual Income $" field.
Enter any deductions you are eligible for in the "Deductions $" field.
Enter any tax credits you have in the "Tax Credits $" field.
Select your filing status from the dropdown menu.
Select the tax year from the dropdown menu.
Click "Calculate Tax" to see your estimated tax liability.
The calculator will display your estimated tax owed based on the information provided.
A chart will visually show the tax owed in each bracket, providing a clearer understanding of your tax obligations.