Tax Calculator - Federal Income Tax Estimator

Estimate your federal income tax liability based on your income, filing status, deductions, and credits. Understand your tax burden and plan your finances effectively.

Estimate Your Taxes

Annual Gross Income ($)

Filing Status

Itemized Deductions ($) - Optional

You'll use the higher of your itemized deductions or the standard deduction.

Tax Credits ($) - Optional

Directly reduces your tax liability.

Your Tax Summary

Enter your income and details to estimate your taxes

Smart Tax Planning Tips

Maximize Deductions & Credits

Contribute to Retirement Accounts: Contributions to traditional 401(k)s and IRAs are often tax-deductible, reducing your taxable income.

Health Savings Accounts (HSAs): If eligible, HSAs offer a triple tax advantage: tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses.

Education Credits: Explore credits like the American Opportunity Tax Credit or Lifetime Learning Credit if you or your dependents are pursuing higher education.

Child Tax Credit: A significant credit for eligible families with qualifying children.

General Tax Advice

Keep Good Records: Organize all income statements, receipts for deductions, and other financial documents throughout the year.

Adjust Withholding: Review your W-4 form with your employer to ensure the correct amount of tax is withheld from your paycheck, avoiding a large refund or tax bill.

Consult a Professional: For complex financial situations or significant life changes, a qualified tax advisor can provide personalized guidance and ensure compliance.