Tax owed calculator 2015

The calculator will calculate tax on your taxable income only. Does not include income credits or additional taxes. 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 example, if you calculate that you have tax liability of $ 0(based on your taxable income and your tax bracket) and you are eligible for a tax credit of $ 2that would reduce your liability to $ 800.

You would only owe $ 800. Tax credits are only awarded in certain circumstances, however. A tax credit valued at $00 for instance, lowers your tax bill by $000. Tax deductions , on the other han reduce how much of your income is subject to taxes.

When you use our tax calculator , we’ll ask you questions about these details to give you a better estimate of your refund or taxes due. Standard deduction vs. This includes taxpayers who owe alternative minimum tax or certain other taxes , and people with long-term capital gains or qualified dividends.

Income Tax Calculator.

It is mainly intended for residents of the U. Quickly forecast your tax refund amount with TaxCaster, the convenient tax return calculator that’s always up-to-date on the latest tax laws. Estimate your tax refund. This interactive, income tax estimator provides accurate insight into how much you may get back this year or what you may owe before you file.

Access IRS Tax Forms. Complete, Edit or Print Tax Forms Instantly. Free for Simple Tax Returns. Maximum Refund Guaranteed. Get a Jumpstart On Your Taxes! Industry-Specific Deductions. File Taxes From Your Home.

The credit is, however, phased out for at higher incomes. 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. Use this Self-Employment Tax Calculator to estimate your tax bill or refund. This tool uses the latest information provided by the IRS including annual changes and those due to tax reform. However, if you are self-employe operate a farm or are a church employee, you may owe self-employment taxes.

This calculator computes federal income taxes, state income taxes, social security taxes, medicare taxes, self-employment tax , capital gains tax , and the net investment tax.

The provided information does not constitute financial, tax , or legal advice. This calculator provides an estimate of the Self-Employment tax (Social Security and Medicare), and does not include income tax on the profits that your business made and any other income. For a more robust calculation, please use QuickBooks Self-Employed. Our sole and only guarantee or warranty is that anyone who influences us to change our algorithm by more than ten cents ($0) will receive $100. Include your income, deductions, and credits to calculate.

Other tax laws or Oregon Department of Revenue rules may apply to your specific situation. Please contact us if you have questions. Simple tax calculator This link opens in a new window – this calculation will take between two and minutes to complete.

This calculator will help you work out the tax you owe on your taxable income for the previous six income years.