Federal Income Tax

Your Results

Based on your estimates, you could owe the amount of federal income tax shown below.

Is the amount greater than you expected? You may be able to help reduce your tax liability by contributing more to your employer-sponsored retirement plan or by increasing your itemized deductions. For example, you may want to increase your charitable contributions or pre-pay deductible expenses such as state taxes.

This is only an estimate of your total taxes. A tax refund or taxes still owed would depend on withholdings, estimated taxes paid, eligible tax credits, and other factors not considered here. This is not to be construed as a final determination of your federal tax liability; a tax professional should be consulted. Alternative minimum tax and itemized deductions are not considered.

Are you comfortable with the amount you are paying in taxes? There are steps you can take to help reduce your annual tax burden. Review your individual situation and develop a strategy to help reduce your taxable income.

Where Your Annual Income Goes

This is only an estimate of your total taxes. A tax refund or taxes still owed would depend on withholdings, estimated taxes paid, eligible tax credits, and other factors not considered here. This is not to be construed as a final determination of your federal tax liability; a tax professional should be consulted. Alternative minimum tax and itemized deductions are not considered.