This tool helps you quickly calculate your taxes based on the current tax brackets in each state.
EA Tax Calculator
Use the form above to estimate your annual tax based on your income, state, filing status, and deductions.
How to Use It
- Enter your annual income
- Select your state
- Select your filing status
- Enter any deductions
- Click the “Calculate” button to see your estimated tax
How It Calculates
The calculator deducts the specified amount from your income to determine your taxable income. Based on the state you select, it applies the relevant tax rate. Additionally, different filing statuses may adjust the tax rate further.
The tax rate may vary if you are filing as “Married Filing Jointly”, providing a slightly lower rate.
Limitations
This calculator provides a rough estimate and may not account for all possible deductions, credits, and state-specific rules. Always consult a tax professional for your actual tax calculations.
Use Cases for This Calculator
Calculate Income Tax
Enter your annual income, deductions, and tax credits to determine the amount of income tax you owe. The calculator will consider the tax brackets and calculate the tax owed accurately for a hassle-free tax filing experience.
Estimate Tax Refund
Input your income, withholdings, and deductions to estimate the potential tax refund you may receive. The calculator factors in all relevant tax information to provide you with an accurate estimation of your refund amount.
Determine Taxable Income
By entering your gross income and subtracting allowable deductions, the calculator will compute your taxable income. This simplifies the process of understanding how much of your income is subject to taxation.
Calculate Capital Gains Tax
Provide details on your capital gains and holding periods to calculate the capital gains tax owed. The calculator considers various factors such as tax rates and deductions to provide you with an accurate assessment of your capital gains tax liability.
Plan for Retirement Contributions
Estimate the tax benefits of contributing a specific amount to your retirement account using the calculator. By entering your contribution amount, the calculator will show you the tax savings you can enjoy by planning for retirement smartly.
Check Alternative Minimum Tax (AMT)
Input your income and deductions to determine if you are liable for the Alternative Minimum Tax. The calculator will compare your tax liability under the regular income tax system with the AMT to ensure you are aware of any potential additional tax obligations.
Calculate Self-Employment Tax
Enter your self-employment income and expenses to determine the self-employment tax owed. The calculator considers both the employer and employee portion of the self-employment tax, providing you with a comprehensive picture of your tax liability.
Assess Deductible Expenses
Input your allowable deductible expenses such as mortgage interest, charitable contributions, and medical expenses to assess their impact on your taxable income. The calculator will show you how these expenses reduce your tax liability effectively.
Plan for Education Savings
Estimate the tax benefits of contributing to an education savings account for yourself or a beneficiary. By entering the contribution amount, the calculator will demonstrate how these savings can lead to tax advantages in planning for education expenses.
Calculate Gift Tax
Input the value of gifts given to assess potential gift tax liabilities. The calculator considers the annual gift tax exclusion and provides you with an understanding of any gift tax obligations that may arise from your generous giving.