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Marginal Tax Rate Calculator

Do you know which tax bracket your household falls into? Whether you file taxes individually or as a family, knowing your tax bracket and tax margins can help you predict whether you'll receive a refund or will owe the government at the end of the year. Our Marginal Tax Rate Calculator can help you predict your tax rate and how much you may owe for 2010.

 

Definitions

Federal Income Tax Rates:
Use the table below to assist you in estimating your Federal 2013 tax rate.

Wages, salaries, tips, etc.
This is your total income for the year. To keep things simple this calculator assumes this is your net income, after deductions for retirement contributions such as 401(k)s, IRAs, etc.

Filing status
Choose your filing status. Your filing status determines the income levels for your Federal tax bracket. It is also important for calculating your standard deduction, personal exemptions, and deduction phase out incomes. The table below summarizes the five possible filing status choices. It is important to understand that your marital status as of the last day of the year determines your filing status.
 

For 2013, the standard deductions are $12,200 for married couples filing jointly, $6,100 for married couples filing separately and singles, and $8,950 for heads of household.

Are you someone's dependent?
Choose 'no' if no one can claim you or your spouse as a dependent. Choose 'yes' if someone can claim you as a dependent. Choose 'both you and your spouse if you both are dependents. (You are a dependent if someone supports you and can claim a dependency exemption for you.)

Number of additional dependents
A dependent is someone you support and for whom you can claim a dependency exemption. In 2013, each dependent you claim entitles you to receive a $3,900 reduction in your taxable income (see exemptions below). You may also receive a tax credit of up to $1,000 for each dependent child under the age of 17. The credit is, however, phased out at higher incomes.

Itemized deductions
This is the total of your itemized deductions that you can include on schedule A of your Federal income taxes. For most people this includes state income taxes paid for the year, interest on a mortgage and any charitable contributions. Other itemized deductions include certain investment expenses, medical expenses exceeding 7.5% of your adjusted gross income, and some moving expenses.
Your standard deduction will be automatically calculated for you based on the filing status and number of dependents you enter. If the number you enter here is lower, your standard deduction will be used to determine your average tax rate.
 
Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

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