Insurance Specialists of Brownwood - Federal Income Tax : Calculator: Federal Income Tax

Paying federal income taxes is one of most people’s least favorite annual activities. As a result, many people tend to procrastinate by not planning for their taxes each year and by completing and filing the forms at the last possible minute. This calculator is designed to help you estimate your annual federal income tax liability.

What is your tax filing status?
What is your total pre-tax income? Include W-2 income, interest, dividends, rental income, etc.	$
Enter the total contributions made to all employer-sponsored plans this year (e.g., 401(k) plans, traditional IRA’s, etc).	$
Enter your deduction(s). If you itemize your deductions, enter that total here. Otherwise, enter the appropriate standard deduction. For the 2012 tax year, the standard deductions are as follows: single, $5,950; heads of households $8,700; married filing separately, $5,950; married filing jointly, $11,900.	$
Enter the number of dependents/personal exemptions that you will be claiming. Generally, this will be you, your spouse, and your children.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues. Calculators provided by Emerald Connect, Inc.

Securities and investment advisory services offered through ING Financial Partners, Inc., member FINRA, SIPC.

Federal and state insurance and securities rules and regulations prohibit registered representative(s) and/or investment adviser representative(s) from soliciting, offering and selling any insurance or securities products or providing investment advice until they are properly registered and licensed in each state jurisdiction.

The registered representative(s) and/or investment adviser representative(s) listed on this website are licensed and registered in the following states:

Securities and advisory services offered through ING Financial Partners, Inc., member SIPC.

Insurance Specialists, Inc. is not a subsidiary of or controlled by ING Financial Partners, Inc.