Calculate your income tax, deductions, and potential refunds with our comprehensive tax calculator. Get accurate results based on current tax brackets and rates.
Enter your tax information to see results
Follow these simple steps to calculate your taxes accurately and efficiently.
Input your annual gross income, filing status, and tax year information.
Select standard or itemized deductions based on your financial situation.
Include dependents, age, and other relevant personal information.
Receive detailed tax calculations with breakdown and recommendations.
Explore our comprehensive suite of tax and financial calculators.
Calculate sales tax instantly for any purchase amount across different tax rates and jurisdictions.
Try NowConvert hourly, weekly, monthly, and annual salary with detailed breakdown of earnings.
Try NowCalculate discounted prices and savings with percentage or amount-based reductions.
Try NowConvert between different currencies with real-time exchange rates and historical data.
Try NowCalculate simple and compound interest with customizable rates and time periods.
Try NowComprehensive financial calculations for loans, investments, and retirement planning.
Try NowThe U.S. uses a progressive tax system with multiple tax brackets. Your income is taxed at different rates as it moves through each bracket, not at a single rate for your entire income.
You can choose between the standard deduction (a fixed amount) or itemizing specific deductions like mortgage interest, charitable donations, and state/local taxes. Choose whichever gives you the larger deduction.
Your total income minus specific deductions like retirement contributions and student loan interest.
Your AGI minus either the standard deduction or itemized deductions.
Credits reduce your tax liability dollar-for-dollar, while deductions reduce your taxable income.
The percentage of your total income that goes to taxes, calculated as total tax ÷ total income.
This calculator provides estimates for informational purposes only. Tax laws are complex and change frequently. For accurate tax planning and filing, consult a qualified tax professional or use official IRS resources.
Get answers to common questions about tax calculations and our calculator.
Our tax calculator uses current IRS tax brackets and standard deduction amounts to provide accurate estimates. However, it's designed for basic tax situations and may not account for all possible deductions, credits, or complex tax scenarios. For comprehensive tax planning, consult a tax professional.
Federal taxes are paid to the IRS and are the same nationwide, while state taxes vary by state. Some states have no income tax, while others have rates ranging from 1% to over 13%. Our calculator focuses on federal taxes, but you should also consider your state's tax requirements.
You should choose whichever option gives you the larger deduction. For 2024, the standard deduction is $14,600 for single filers and $29,200 for married filing jointly. Itemize if your total deductions (mortgage interest, state/local taxes, charitable donations, etc.) exceed these amounts.
Tax brackets are progressive, meaning you pay different rates on different portions of your income. For example, if you're single and earn $50,000, you pay 10% on the first $11,000, then 12% on the amount from $11,001 to $44,725, and 22% on the remaining amount up to $50,000.
Include all taxable income: wages, salaries, tips, interest, dividends, capital gains, rental income, and business income. Don't include non-taxable income like municipal bond interest, life insurance proceeds, or gifts received.
Dependents can qualify you for the Child Tax Credit (up to $2,000 per qualifying child) and other credits like the Child and Dependent Care Credit. They may also allow you to file as Head of Household, which has more favorable tax brackets than Single filing status.
Use our calculator for tax planning throughout the year, estimating quarterly payments if you're self-employed, or getting a rough idea of your tax liability before filing. It's also helpful when considering major financial decisions that could affect your taxes.
Yes, our calculator is updated annually with the latest IRS tax brackets, standard deduction amounts, and other relevant tax information. We update our system as soon as the IRS releases new tax year information, typically in late fall for the following tax year.
Yes, once you calculate your taxes, you'll see options to save your results as a PDF or print them directly. This is useful for record-keeping or sharing with your tax professional. We don't store your personal information on our servers.
Simply add up all your taxable income sources to get your total annual gross income. This includes W-2 wages, 1099 income, business profits, rental income, and investment gains. Our calculator will handle the combined total according to current tax brackets.