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.

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Enter the total contributions made to all employer-sponsored plans this year (e.g., 401(k) plans, traditional IRA’s, etc).

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Enter your deduction(s). If you itemize your deductions, enter that total here. Otherwise, enter the appropriate standard deduction. For the 2011 tax year, the standard deductions are as follows: single, $5,800; head of household, $8,500; married filing separately, $5,800; married filing jointly, $11,600.

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Enter the number of dependents/personal exemptions that you will be claiming. Generally, this will be you, your spouse, and your children.

 
   
   
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McWilliams Financial Corp
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Information on this website is intended for general informational purposes only and should not be considered investment advice, nor should it be relied upon when preparing legal or tax documents. McWilliams Financial is not a licensed tax preparer and does not provide specific legal or tax advice. Information is collected from sources believed to be reliable, but has not been verified for accuracy or completeness. California insurance license number 0682214. Insurance and annuity guarantees are based on the claims paying ability of each insurance company. Securities offered through Pacific West Securities, Inc., member FINRA, SIPC. Advisory services provided through Pacific West Financial Consultants, Inc, a registered investment advisor. CDARS and Certificate of Deposit Account Registry Service are registered service marks of Promontory Interfinancial Network, LLC