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About Federal Tax Calculator
This Federal Tax Calculator uses the 2008 Federal Tax Rate Schedules to estimate your tax liability based on the income and tax information that you specify. It is not meant to replace official tax worksheets, but it can be very useful for quick approximations. To calculate your actual tax, you would need to use Form 1040, 1040A, or 1040EZ as appropriate.
- To choose the standard deduction, just leave the Deductions field blank.
- Use the C buttons to quickly clear a field.
- If you know your Taxable Income, enter 0 in the Deductions and Exemptions to calculate your estimated tax.
- Federal tax is not calculated as a straight percentage of your total taxable income. For example, if your filing status is Married Filing Jointly, in 2008 your first $16,050 is taxed at 10%. Then, the amount above $16,050 up to $65,100 is taxed at 15%, and so on. |
This entry was posted on Tuesday, January 6th, 2009 at 9:22 pm and is filed under iPhone Applications.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
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