Tax Calculator

Estimate your income tax liability and plan for tax season with accurate calculations. Get federal & state tax estimates, deduction optimization, and tax bracket analysis.

Your Tax Information

Single
Married

Tax Summary

Taxable Income $62,050
Federal Tax $9,328
State Tax $3,102
Total Tax $12,430
Effective Tax Rate 16.6%
After-Tax Income $62,570

Tax Breakdown

10% Bracket $1,100
12% Bracket $4,266
22% Bracket $3,962

Tax Planning Tips

Maximize Deductions

Keep track of all eligible deductions including mortgage interest, charitable contributions, and medical expenses to reduce your taxable income.

Contribute to Retirement

Contributions to traditional IRAs and 401(k) plans can lower your taxable income and grow tax-deferred until retirement.

Tax-Loss Harvesting

Offset capital gains by selling investments that have decreased in value, which can reduce your overall tax liability.

Health Savings Accounts

HSAs offer triple tax advantages: contributions are tax-deductible, growth is tax-free, and withdrawals for medical expenses are tax-free.