8/30/2016
Tax Calculator ­ Estimate Your Tax Liability | Calculators by CalcXML
2016 federal income tax calculator
Click here for a 2016 Federal Tax Refund Estimator.
Taxes are unavoidable and without planning, the annual tax liability can be very uncertain.
Use the following calculator to help determine your estimated tax liability along with your
average and marginal tax rates.
For "high­income" workers you may experience an increase in your 2016 federal taxes going
forward due to a number of new provisions such as personal exemption phaseouts, limits to
itemized deductions, 3.8% Medicare tax on investment income and the creation of a new tax
bracket (39.6%).
Income and Tax Information
Tax filing status
More Calculators Single
Gross annual income ($)
80,000
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Amount of gross income considered 'unearned'/investment income ($)
0
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Tax Calculator ­ Estimate Your Tax Liability | Calculators by CalcXML
0
Qualified plan/IRA contribution ($)
8,000
Itemized deductions ­ $0 for standard ($)
0
Number of personal exemptions (0 to 15)
1
Number of dependent children (0 to 15)
0
Calculate
More Calculators Results
Based upon the information you provided, it appears that your estimated federal income tax liability will
be approximately $11,184. Your effective tax rate is 14.0% and your marginal tax rate is 25.0%.
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FINANCIAL PLANNERS Tax Calculator ­ Estimate Your Tax Liability | Calculators by CalcXML
Summary Table
Estimated Tax Analysis
Gross income
$80,000
Qualified plan contributions
­
$8,000
Adjusted gross income
=
$72,000
Standard/Itemized deductions
­
$6,300
Personal exemptions
­
$4,050
Taxable income
=
$61,650
Tax liability before credits
$11,184
Child tax credits
­
$0
Estimated tax liability
=
$11,184
Graph
Tax Analysis
$90,000
$80,000
More Calculators $72,000
$54,000
$36,000
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$18,000
$11,184
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Tax Calculator ­ Estimate Your Tax Liability | Calculators by CalcXML
$0
Tax Liability
Gross Annual Income
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This information may help you analyze your financial needs. It is based on information and assumptions provided by you
regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any
fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such
information should not be relied upon as the only source of information. This information is supplied from sources we
believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current
performance information. Past performance does not guarantee nor indicate future results.
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