Enter thresholds for each bracket (except the last) separated by commas. The number of thresholds should be one less than the number of brackets.
Enter as a decimal, e.g., 5.5 for 5.5%.
Your Estimated Tax Burden: $0.00
Federal Tax: $0.00 | State Tax: $0.00
Understanding Federal and State Taxes
Calculating your tax liability can be complex, involving both federal and state income taxes. This calculator provides an estimate based on your provided income, deductions, and tax bracket information.
Federal Income Tax
The United States employs a progressive tax system for federal income tax. This means that higher portions of your income are taxed at progressively higher rates. Your taxable income is determined by subtracting your allowable deductions from your gross income.
How it Works:
Gross Income: This is your total income from all sources before any deductions.
Deductions: These reduce your taxable income. Common deductions can include contributions to retirement accounts (like 401(k)s), student loan interest, or itemized deductions.
Taxable Income: Gross Income – Deductions.
Tax Brackets: Your taxable income is divided into portions, with each portion taxed at a specific rate. These rates increase as your income falls into higher brackets. For example, if the first $11,000 is taxed at 10%, the next portion of income up to $44,725 is taxed at 12%, and so on.
Calculation: The calculator applies the progressive rates to the segments of your taxable income defined by the federal bracket thresholds.
Note: The tax bracket and threshold figures used in this calculator are examples and should be replaced with the current year's official tax data for accurate calculations. Tax laws are subject to change.
State Income Tax
State income tax systems vary significantly. Some states have a flat tax rate, where everyone pays the same percentage regardless of income. Others have progressive brackets similar to the federal system, and some states have no income tax at all.
How it Works:
This calculator assumes a flat state tax rate for simplicity. You enter your state's tax rate as a percentage.
Calculation: The state tax is calculated as (Taxable Income) * (State Tax Rate / 100).
Disclaimer: This calculator is for informational and estimation purposes only. It does not constitute financial or tax advice. Consult with a qualified tax professional for personalized advice. Tax laws are complex and vary by jurisdiction and individual circumstances.
function calculateTaxes() {
var income = parseFloat(document.getElementById("income").value);
var deductions = parseFloat(document.getElementById("deductions").value);
var federalBracketsInput = document.getElementById("federalBrackets").value;
var federalBracketThresholdsInput = document.getElementById("federalBracketThresholds").value;
var stateTaxRate = parseFloat(document.getElementById("stateTaxRate").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = "Your Estimated Tax Burden: $0.00Federal Tax: $0.00 | State Tax: $0.00";
if (isNaN(income) || income < 0 ||
isNaN(deductions) || deductions < 0 ||
isNaN(stateTaxRate) || stateTaxRate < 0) {
resultDiv.innerHTML = "Please enter valid positive numbers for income, deductions, and state tax rate.";
return;
}
var taxableIncome = income – deductions;
if (taxableIncome 0) {
var currentTaxableIncome = taxableIncome;
var previousThreshold = 0;
for (var i = 0; i < federalBrackets.length; i++) {
var rate = federalBrackets[i];
var upperLimit;
if (i 0) {
federalTax += incomeInBracket * rate;
}
previousThreshold = upperLimit;
if (currentTaxableIncome <= upperLimit) {
break; // All income has been taxed
}
}
} else {
resultDiv.innerHTML = "Please enter valid Federal Tax Brackets.";
return;
}
// State Tax Calculation (assuming flat rate on taxable income)
stateTax = taxableIncome * (stateTaxRate / 100);
var totalTax = federalTax + stateTax;
resultDiv.innerHTML = "Your Estimated Tax Burden: $" + totalTax.toFixed(2) +
"Federal Tax: $" + federalTax.toFixed(2) + " | State Tax: $" + stateTax.toFixed(2) + "";
}