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Federal Income Tax Calculator
(Excel, OpenOffice Calc & Google Sh
General Information
Filing Status: Single

Are you someone's Dependent?: No

Income from Wages, Salary and Tips

Filer's Estimated Income: $150,000.00
Note: Insert the amount in below section only if the amount in Box 5 of Form W-2 is different.
Filer's W-2 Information
Amount in Box 5 of W-2: $148,000.00

Income from Other Sources

Dividends (Includes any

Qualified Dividends (Included
Taxable Refunds of State and

Business Income or Loss as per Schedule C and E subject to sel

Note: Fill information in the row below only if filing status is Married Filing Jointly
Spouse's Business Income or Loss as per Schedule C and E subject to sel
Short Term
Long Term
O
Taxab
Taxable pensions and a
Income from Rentals, royalties, S Corporations and Schedule E (Not included
Income from Rentals, royalties, S Corporations and Schedule E (Not included and
Farm Income or L
 Total Unemploy
Social Security Benefits: $1,500.00

Adjustment To Gross Income to Get Adjusted Gross Income

Business Ex
Health Savings Account (HSA) De
50% of Self-Employemen
Self-employed SEP, SIMPLE
Self-employed Health I
Early Withdrawal Penalty from Certificate of Deposit or a Time-Deposit acco

Student Loa

Adjusted
Deductions

Additional Deduction if you are 65 or

Additional Deduction if you are
Below section applicable only to "Married Filing Jointly" or else Select "No".
Additional Deduction if Spouse is 65 or
Additional Deduction if spouse is
Total
Itemized Deduction
Medical and Dental Expenses and medical insurance premiums exceeding the 10% amount of your A
State and
State an
Real Es
Personal Property Taxes (eg. registration fees
Home
Interest paid on Investments
Gifts to cha
Donations in Cash to Cha
Losses due
Non-reimbursed Employee expense
Fees paid
Gambling Losses to the extent o
Total I
Taxable Income Calculations
Adjusted
 Standard Deduction /
Qualified Business Income De
T
Tax Calculations
Tax Rate: 35%
Minimum Tax: $47,843.00
Tax Bracket Lower Limit $209,425.00
Excess Advance Premium Tax Credit Rep
Total Alternative

Tax Credits
Foreign Ta
Credit for Child and Dependant Care Ex
Education Credits
Retirement Savings Contribution
De
Residential Energy
American Oppurtunity Cr

Earne
Recovery

Estimated Tax Liability for Fina

ww.MSOfficeGeek.com
ederal Income Tax Calculator
OpenOffice Calc & Google Sheet)
General Information
How many? Age
Number Of Dependents Qualifying for Child
2 12
Tax Credit between Age 6 and 17:
Number Of Dependents Qualifying for Child
1 5
Tax Credit Unde The Age 6:
Number of Dependents Qualifying for other
1 42
dependent tax credit:
e from Wages, Salary and Tips
Spouse's Estimated Income: $0.00
the amount in Box 5 of Form W-2 is different.
Spouse's W-2 Information
Amount in Box 5 of W-2: $0.00
Note: Fill information in the above this
section only if filing status is Married Filing
Jointly $150,000.00
come from Other Sources
Taxable Interest: $750.00
Tax-Exempt Interest: $200.00
Dividends (Includes any qualified dividends): $1,500.00
Qualified Dividends (Included in Dividends above): $1,150.00
Taxable Refunds of State and Local Income Taxes: $1,500.00
Alimony Received: $50,000.00
e or Loss as per Schedule C and E subject to self-employment Taxes: $100,000.00
elow only if filing status is Married Filing Jointly
e or Loss as per Schedule C and E subject to self-employment Taxes: $0.00
Short Term Caital Gain or Loss: $1,500.00
Long Term Caital Gain or Loss: $50,000.00
Other Gain or Losses: $1,000.00
Taxable IRA Distributions: $25,000.00
Taxable pensions and annuity distributions: $150,000.00
es, S Corporations and Schedule E (Not included and subject to NIIT): $75,000.00
Corporations and Schedule E (Not included and not subject to NIIT): $12,000.00
Farm Income or Losses (Schedule F): $25,000.00
 Total Unemployment compensation: $1,500.00
Taxable Social Security Benefits(85%): $1,275.00
Total Gross Income: $647,375.00
Income to Get Adjusted Gross Income (AGI)
Educator Expenses: $250.00
Business Expenses (Form 2106): $1,500.00
Health Savings Account (HSA) Deduction (Form 8889): $10,000.00
50% of Self-Employement Tax (Schedule SE): $1,674.00
Self-employed SEP, SIMPLE and qualified plans: $1,500.00
Self-employed Health Insurance Deduction: $1,000.00
rom Certificate of Deposit or a Time-Deposit account before maturity: $1,000.00
Alimony Paid: $1.00
IRA Deductions: $20,000.00
Student Loan Interest Deduction: $200.00
Total Adjustments: $37,125.00
Adjusted Gross Income (AGI): $610,250.00
Deductions
Standard Deduction: $12,550.00
Additional Deduction if you are 65 or older: No $0.00
Additional Deduction if you are blind: No $0.00
ied Filing Jointly" or else Select "No".
Additional Deduction if Spouse is 65 or older: No $0.00
Additional Deduction if spouse is blind: No $0.00
Total Standard Deduction: $12,550.00
mized Deduction
premiums exceeding the 10% amount of your AGI: $75,000.00 $13,975.00
State and Local Income Taxes: $5,000.00
State and Local Sales Taxes: $3,000.00
Real Estate Property Taxes: $5,000.00
Personal Property Taxes (eg. registration fees of a motor vehicle): $500.00
Home mortgage Interests: $50,000.00
Interest paid on Investments (eg. margin interest): $4,500.00
Gifts to charities and Churches: $10,000.00
Donations in Cash to Charities and Churches: $5,600.00
Losses due to casualty or theft: $15,000.00
Non-reimbursed Employee expenses by your employer: $500.00
Fees paid for Tax Preparation: $2,500.00
Gambling Losses to the extent of gambling winnings: $5,000.00
Total Itemized Deductions: $120,575.00
xable Income Calculations
Adjusted Gross Income (AGI): $610,250.00
 Standard Deduction / Itemized Deduction: $120,575.00
Qualified Business Income Deduction (Form 8995): $26,150.00
Total Taxable Income: $463,525.00
Tax Calculations
Estimated Income Tax: $136,778.00

Excess Advance Premium Tax Credit Repayment (Form 8962): $15,000.00

Total Alternative Minimum Tax (AMT): $913.00
Tax Before Credits: $152,691.00
Tax Credits
Foreign Tax Credit (Form 1116): $2,000.00
Credit for Child and Dependant Care Expenses (Form 2441): $2,000.00
Education Credits (Form 8863 line 23): $5,000.00
Retirement Savings Contribution Credit (Form 8880): $5,000.00
Dependent Tax Credits: $49,000.00
Residential Energy Credits (Form 5695): $5,000.00
American Oppurtunity Credit non-refundable: $1,500.00
Adoption Credit: $14,000.00
Earned Income Tax Credit: $6,728.00
Recovery Rebate Credit 2021: $1,500.00
Total Tax Credits: $91,728.00
Estimated Tax Liability for Financial Year 2021: $60,963.00