Tax Plan Calculator
By Maxim Lott
What the Trump tax plan means for YOU
Income: $
Enter your income.
Use "Adjusted Gross Income" (line 37 on form 1040.)
Note: Union dues and deductions for unreimbursed expenses by your employer no longer deductible. If you have those
deductions: Run calculator twice, both with & without them as income, to see impact
State:
Married?
Single parents are generally "Head of Household"
Do you currently itemize deductions?
If you enter "I don't know" it'll figure out for you if you should be itemizing itemizing now.
Only if yes: Site calculates state/local income and sales taxes automatically. Roughly what do you pay in property taxes? $ |
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Other itemizations (NOT counting state/local tax or business costs): $
Examples: Charity, medical, mortgage interest deduction.
Only enter things on Schedule A of your return.
Net business losses should be subtracted from the income field above
Children under age 17:
Other dependents:
"Other" includes 17 & 18 year-olds, dependent kids under 24 who are students, and disabled adults
Less common (most people should ignore): I want to enter my exact state/local income & sales tax deductions: $ |
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This will replace the calculator's estimate (methodology explained on FAQ page)
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