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 2009 tax year, the standard deductions are as follows: single, $5,700; head of household, $8,350; married filing separately, $5,700; married filing jointly, $11,400.

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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.

 
   
   
Legacy Solutions Inc.
200 S. Union Street • Kennett Square, PA • 19348
Phone: 610-444-9920
Toll Free: 866-444-9952		 • Fax: 610-444-9918
www.legacysolutions.org • ddanese@legacysolutions.org bwinton@legacysolutions.org mstewart@legacysolutions.org jhall@legacysolutions.org

 

Securities and Investment Advisory Services offered through Capital Analysts Incorporated: Member FINRA / SIPC  

Capital Analysts Incorporated and Legacy Solutions Incorporated are independent non-affiliated entities.