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 2012 tax year, the standard deductions are as follows: single, $5,950; heads of households $8,700; married filing separately, $5,950; married filing jointly, $11,900.

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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.

 
   
   
Thomas A. Newman & Associates
1022 W North Blvd • Leesburg, FL • 34748
Phone: 352-728-1122 or 1-800-728-5088 • Fax: 352-728-1217
• pwatson@woodburyfinancial.net

*Securities and Advisory Services offered through Woodbury Financial Services, Inc. Members of FINRA/SIPC and Registered Investment Advisor. “Newman and Associates, PA”  and Woodbury Financial Services Inc., are not affiliated entities.This communication may not be construed as a solicitation to buy or sell any security. Investment in any security involves risk, including the possible loss of principal. Information relating to securities is intended for use by individuals residing in Connecticut, Florida, Georgia, North Carolina, Ohio and and Pennslyvania only.

 
 

 

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