Income Tax Calculator

An Income Tax Calculator helps estimate the total tax payable based on annual income and applicable deductions.

Tax Information

Additional Income & Deductions

Understanding Your Tax Return

Deductions

  • Standard: Fixed amount based on filing status
  • Itemized: Sum of specific deductible expenses

2024 Standard Deductions:

Single: $14,600

Married Filing Jointly: $29,200

Head of Household: $21,900

Tax Planning Tips

Maximize retirement contributions to reduce taxable income

Track deductible expenses throughout the year

Adjust withholding to avoid large refunds or bills

Consider tax-loss harvesting for investments

Important Notice

This calculator provides estimates for planning purposes. Actual tax liability may vary based on specific circumstances and tax law changes. Consult a tax professional for personalized advice.