Tax Season Calculators, Tips, and Tools 2018 - 2019

Calculate Federal Taxes

Calculate Federal Taxes 2018 - 2019

Free Online Tax CalculatorBoy do we have a great tax tool for you! As tax season creeps up on us there may be many questions swirling around in your head, but, probably the most prominent question may be "where do I stand with the big man Uncle Sam".

Well there is nothing like an easy to use tax tool that you can calculate federal taxes online in minutes to take some of that stress away, and help with online federal tax filing.

Calculate Federal Taxes Owed for your 2018 Tax Return to be Filed by April 15 2019

The federal tax filing deadline is not something to play around with. While you you can file a federal tax return extension to extend your time to file, you do not gain additional time to pay any taxes due. Calculate your federal taxes due ahead of time so that you can be prepared! Pay any taxes owed on time or you will be subjected to possible penalty and interest charges.

Why you should Calculate your tax return liability several time a year

  • Keep you from getting surprised by a unexpected tax bill

  • Allows you to plan for meeting those financial obligations

  • Make you aware of the need to find tax deductions

  • Keeps you on track with quarterly payments

  • Helps determine if you need to make a withholding adjustment

  • Allows you to be more prepared for tax season

Get on top of your federal tax debt responsibilities by using our tax return calculator tool several times a year as your income changes. This will make you far more comfortable than guessing what tax liability you may have.

 Calculate Federal Taxes Due, 2018 - 2019

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Calculate Federal Taxes FREE with TurboTax

Calculate Federal Taxes FREE with H&R Block

Calculate Federal Tax Return Refund

Calculate Gross Income  Vs. Taxable Income

How to Calculate your Net Taxable Income from Gross Income

Many factors go into calculating your taxes accurately, and the end result is only as accurate as the data you put into the calculator. The end result must also be adjusted with any tax deductions you may have if you used gross income, instead of net income.

Your net income is the taxable amount of income you have after all tax deductions and tax break are already figured in to determine your overall taxable income.

In the end, taking advantage of tax breaks can help you save some serious cash on your tax bill this year.

To determine your net taxable income, reduce your gross income by subtracting all tax deductions.

net taxable income

Each taxation on the gross income requires a different calculation to determine how much is withheld for each required taxation charge. The three main federal tax withholdings are as follows.

Social Security Tax

The Federal Social Security Tax rate is calculated at 6.2 percent of net income up to $128,400 in pay prior to any other taxes being subtracted.

Medicare Tax

Medicare Tax is taxed at 1.45 percent of net income up to a threshold set by tax filing status. Then .09 percent thereafter.

medicare and social security taxes

1.45% Medicare tax on the first $200,000 of wages, ($250,000 for joint returns; $125,000 for married taxpayers filing a separate return), plus 0.9% additional Medicare tax on all wages in excess of $200,000 ($250,000 for joint returns; $125,000 for married taxpayers filing a separate return).

It is required for employers to Withhold Medicare Tax from all wages paid to the employee for the year.

Federal Income Tax

The employer is responsible to Calculate Federal Income Tax withheld according to each employee's W-4 data and IRS Circular E's tax withholding tables. The employee's filing status can be found on line 3 of their W-4 form and allowances are found on line 5.

Use the Circular E tax withholding table, plus the employee's gross wages and pay period for proper calculations.