Trump tax estimator

It doesn’t matter what state they’re in. Will the GOP tax plan lower your taxes or raise them? Thankfully, there’s a new tool that lets you enter real-life numbers to quantify the impact the new tax code could have on you starting next year. You begin by entering your salary, marriage status, number of children and five other fields.

These services are provided only by credentialed CPAs, Enrolled Agents (EAs), or. Based on your projected tax withholding for the year, we can also estimate your tax refund or amount you may owe the IRS next April.

Access IRS Tax Forms. Complete, Edit or Print Tax Forms Instantly. Remember the Tax Calculator is a quick tool to help plan your tax year and ensure you’re accounting for the right amount of tax. It’s important to use the calculator whenever your tax situation changes or as you become more confident in your estimated amounts. Our income tax calculator calculates your federal, state and local taxes based on several key inputs: your household income, location, filing status and number of personal exemptions.

Remember this is just a tax estimator so you should file a proper tax return to get exact figures. Find households like yours in five steps or fewer. Because tax reforms will have a big impact on most American’s tax returns, we have created the following resources to help navigate the changes.

This includes taxpayers who owe alternative minimum tax or certain other taxes, and people with long-term capital gains or qualified dividends. This Tax Calculator is not intended as an online tax preparation tool for a Federal Income Tax Return. Trump Tax Deductions. Include your income, deductions, and credits to calculate.

Your maximum tax bracket is. Tax calculated using Qualified dividend and Capital gain tax worksheet is $. It may vary from the taxes calculated directly using the tax brackets above. Republican Tax Plan Calculator.

Calculate your taxes and discover the potential effect of the GOP tax plan. To Read the Full Story. Enter your tax information to the best of your knowledge. Estimate the areas of your tax return where needed.

As you make progress, the taxes you owe or the refund you can expect to receive will be calculated and displayed on each page. Finish your estimated tax return. The tax law resulted in a bump in take-home pay for about of Americans, according to the IRS.

Are you a freelancer or self-employed? Millions have trusted TaxAct for tax filing. Use our calculator to see how much.

This tax calculator is solely an estimation tool and should only be used to estimate your tax liability or refund. It should not be used for any other purpose, such as preparing a federal income tax return, or to estimate anything other than your own personal tax liability. But that doesn’t mean the $1. Below are some tips on how to fill out the calculator.

AGI is line of your tax return. Interest on your Mortgage – Schedule A line 15. Charitable Contributions- Schedule A line 19.

With this calculator, you can see how much you will get back in your IRS tax refund. The new plan would reduce the number of federal tax brackets from seven to only three, with tax rates at , and. The current tax brackets range from to 39.