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What Will Your 2016 Tax Bill Look Like?

Your 2016 income taxes will be
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Household Income
Household Income
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Location
Location
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Marital Status
Marital Status
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401(k) Contribution
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IRA Contribution
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Itemized Deductions
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Personal Exemptions
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Your 2016 income taxes will be with of income to be paid to taxes.
Tax Type Marginal
Tax Rate		 Effective
Tax Rate		 Tax
Amount
Federal
State
Local
FICA
Total Income Taxes
Other Estimated Taxes
Sales Tax $
Fuel Tax $
Property Tax $
In this income tax calculator we calculate the federal, state and local tax burden based on your taxable income. First we calculate Adjusted Gross Income by taking your household income and making relevant adjustments including, for example, subtractions for student loan interest payments and contributions to an IRA. Then we subtract exemptions and deductions (either itemized or standard) based on your filing status to arrive at your taxable income. We apply the relevant marginal federal income tax rates to your taxable income. Finally, we use your location to calculate state and local taxes (if applicable), arriving at your total estimated tax burden. To better align with filing season, tax calculations are based on the tax filing calendar, therefore calculations prior to April are based on the previous years tax rules. Close