2017 federal income tax calculator
Click here for a 2017 Federal Tax Refund Estimator.
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 "high-income" workers you may experience an increase in your federal taxes due to a number of provisions including personal exemption phaseouts, limits to itemized deductions, the 3.8% Medicare tax on net investment income, and the 39.6% tax brackets.
Calculate and compare how your how your tax bill might change in 2018 under the new Tax Cuts and Jobs Act (H.R.1) recently signed into law by President Trump, and look further at the changes in 2018 to the federal income tax brackets and rates.
Based upon the information you provided, it appears that your estimated federal income tax liability will be approximately $81,951. Your effective tax rate is 24.1% and your marginal tax rate is 33.0%.
- Calculate your 2018 taxes with our Trump Tax Reform Calculator
- Read about 5 common tax deductions
- Calculate whether you need to change your paycheck withholdings with the new tax bill.
- Discuss how much money you really have after taxes.
- Calculate your tax freedom day - how many days you have to work to pay your federal taxes.
|Estimated Tax Analysis|
|Qualified plan contributions||-||$0|
|Adjusted gross income||=||$340,000|
|Tax liability before credits||$81,951|
|Child tax credits||-||$0|
|Estimated tax liability||=||$81,951|
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This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.