Estimate Your Taxes with Confidence
Accurate Tax Estimator Calculator
Quickly calculate your estimated tax payments with our intuitive tool, designed to simplify your financial planning.
Why Choose Our Tax Estimator?
User-Friendly Interface
Navigate through our calculator with ease, thanks to its simple and intuitive design.
Accurate Calculations
Receive precise estimates based on the latest tax regulations and your specific financial details.
Comprehensive Reports
Generate detailed reports to help you understand your tax obligations and plan accordingly.
Using the Tax Estimator: A Step-by-Step Guide
Step 1
Enter Your Financial Details
Input your income, deductions, and other relevant financial information to get started.
Step 2
Review Your Estimates
Analyze the calculated tax estimates to understand your potential liabilities.
Step 3
Download Your Report
Save or print your detailed tax report for future reference and financial planning.
Basic Filing Information for tax year (Some tax rate data is preliminary or estimated)
| Taxpayer's Name: | Click here for the AARP RMD Calculator | ||
| Filing Status: |
TP is
50 - 64
65 or older
blind
has retirement plan
SP is 50 - 64 65 or older blind has retirement plan | ||
| Check if you will be living with your spouse. | |||
| TP (or SP) is or can be a dependent on someone else's return. | |||
| Dependent is 16 or younger, or a full time student and 23 or younger. | |||
| Total Dependents claimed: | TP: , SP: | ||
| Dependents qualified for EIC: | TP: , SP: | ||
| Dependents qualified for CTC: | TP: , SP: | Check box for MFJ/MFS comparison | |
| Dependents under age 6: | TP: , SP: (who qualify for CTC) | ||
Estimated Tax Worksheet:
| Income: (Expand to enter details.) | Enter Form 1040 expected amounts: | |||
| Wages, salaries, tips, etc from W-2s | ||||
| Taxable scholarships | ||||
| Taxable interest | ||||
| Tax-exempt interest expected | ||||
| Ordinary dividends | ||||
| Qualified dividends | ||||
| Section 199A dividends | ||||
| IRAs distributions (Amount of QCD included: ) | ||||
| Pensions and annuities | ||||
| Amount of social security expected | ||||
| Business income | ||||
| Capital gains/loss
Short term gain/loss: Long term gain/loss: |
|
|||
| Alimony (if taxable) | ||||
| Unemployment | ||||
| Other income (rentals, royalties, etc) | ||||
| Gross income expected | ||||
| Adjustments to Income: (Expand to enter details.) | ||||
| Educator expenses | ||||
| Health savings account | ||||
| Deductible part of self-employment tax (1/2 of SE tax shown below) | 0 | |||
| Self-employment SEP, SIMPLE and qualified plans | ||||
| Self-employment health insurance deduction
(Total health insurance: )
| 0 | |||
| Penalty on early withdawal of savings | ||||
| Alimony paid (if deductible) | ||||
| Traditional IRA deduction | ||||
| Student loan interest | 0 | |||
| Other adjustments expected (Forms 2106 & 3903) | ||||
| Charitable contributions if using standard deduction (enter under Deductions below) | ||||
| Total adjustments | ||||
| Adjusted gross income expected | 0 | |||
| Deductions: (Expand to enter itemized deductions.) | ||||
| Standard deduction | 0 | |||
| Medical expenses (Total expenses without insurance = ) | ||||
| State income tax or sales tax, and property taxes: (Total paid = ) | ||||
| Interest paid | ||||
| Gifts to charity - cash: , non-cash: | ||||
| Job expenses and miscellaneous deductions (2% AGI = ) | ||||
| Other miscellaneous deductions (including gambling losses) | ||||
| Medical expenses, investment interest expenses, casualty losses and gambling losses included in the total itemized deductions entered in line above (for AGI > ) | ||||
| Total itemized deductions ( Check if required to itemize) | ||||
| Amount after deductions | 0 | |||
| Exemptions: | ||||
| 0 | 0 | |||
| Charitable contributions if using standard deduction (enter under Deductions above) | ||||
| Qualified Business Income deduction OUT OF SCOPE | 0 | |||
| Total Deductions | ||||
| Taxable income: | ||||
| Taxable income | 0 | |||
| Tax: | ||||
| Tax from tax tables | 0 | |||
| Enter any additional taxes (Forms 4972, 6251, 8814 or 8889) | ||||
| Total tax amounts | 0 | |||
| Nonrefundable Credits: actual amount: | max available: | will use: | ||
| Foreign tax credit Form 1116 is required ( Check to allow) | ||||
| Child and dependent care expenses for dependents | ||||
| Education credits | ||||
| Retirement savings contributions credit (2000 per TP/SP) | ||||
| Child and Family Tax Credit | ||||
| Residential energy and other credits | ||||
| Total Nonrefundable credits: | ||||
| Tax amount after credits | 0 | |||
| Other Taxes: | ||||
| Self-employment tax | 0 | |||
| Net Investment Income tax (Enter investment expenses: ) | 0 | |||
| Other taxes (First-time homebuyer, etc) | ||||
| Total after other taxes | 0 | |||
| Refundable Credits: | ||||
| Earned income tax credit | ||||
| Additional Child Tax Credit | ||||
| Refundable Child Care Credit (enter cost in Nonrefundable credits line) | ||||
| American Opportunity Credit (enter cost in Nonrefundable Ed credits line) | ||||
| Recovery Rebate Credit | ||||
| Other refundable credits | ||||
| Estimated total tax (A negative amount indicates a refund) | 0 | |||
| Estimated Payments Needed: by: | ||||
| 90% of estimated total tax ( 66 2/3% for farmers and fishermen) | 0 | |||
| Enter 100% of 's income tax ( Check if 's AGI was > $K) | ||||
| Choose which to use... | ||||
|
Smaller of above or ...
Use % of 's amount from the line above. Use 100% of the estimated total tax. |
0 | |||
| Refund from designated as an estimated payment | ||||
| Income tax withheld and estimated to be withheld | ||||
| Balance (override if a different amount is desired: ) (Payment not required if less than $1000) | ||||
| Quarterly amount | ||||
MFS comparison:
| Taxpayer | Spouse | |
|---|---|---|
| Income: | ||
| Adjustments to Income: | ||
| Deductions: | ||
| Exemptions: | ||
| Taxable income: | ||
| Tax: | ||
| Nonrefundable Credits: | ||
| Other Taxes: | ||
| Refundable Credits: | ||
| 0 | 0 | |
| MFJ | = | |
| MFS | = | |
| Diff | = |
² IRA limit can be $1,000 higher per person over age 50 but not more than earned income;
| Taxpayer: | |
| Spouse: |
(If joint, enter amount in TP space and click JOINT)
Enter the amount you spent on qualified expenses for each student:
| #1: AOC LLC | |
| #2: AOC LLC | |
| #3: AOC LLC |
Common Questions About Our Tax Estimator
Discover answers to the most frequently asked questions about using our Tax Estimator Calculator.
How does the Tax Estimator Calculator work?
Our calculator uses your input data to estimate your tax liability based on current tax laws, helping you plan your finances effectively.
Is the Tax Estimator Calculator accurate?
While our calculator provides a reliable estimate, it’s essential to consult with a tax professional for precise calculations tailored to your unique situation.
Do I need to create an account to use the calculator?
No, you can use the Tax Estimator Calculator without creating an account. It’s designed for easy and quick access.
Start Estimating Your Taxes Today!
Use our Tax Estimator Calculator to gain insights into your tax obligations. For personalized assistance, contact Solvera Business Services and let our experts guide you.