Federal Income Tax Calculator
Discovery Resource # C-11
Resource Topic:
Wealth Management
Planning Tools:
Calculator
Career Phase:
Evaluate & Decide Learn Plan Practicing/Living
Description:
Taxes…you cannot escape them, but our calculator can help plan for them.
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Description:
For "high-income" workers you may experience an increase in your 2015 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%).
Use this calculator to help determine your estimated tax liability along with your average and marginal tax rates. "High-income" workers may experience an increase in federal taxes and beyond due to new provisions such as personal exemption phaseouts, limits to itemized deductions, Medicare tax on investment income, and a new top tax bracket.
Use this calculator to help determine your estimated tax liability along with your average and marginal tax rates. "High-income" workers may experience an increase in federal taxes and beyond due to new provisions such as personal exemption phaseouts, limits to itemized deductions, Medicare tax on investment income, and a new top tax bracket.
Objectives:
- Input the requesite information to estimate their taxable income and liabilities
- Compare and contrast outputs from this calculator with the other financial calculators to formulate their financial plans and strategies for qualifying contributions to retirment savings, etc.
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