|
What This Calculator Can Do For You.
The Federal Income Tax Calculator can help you make decisions about:
- Where to live.
- What kind of income you will need to support the
expenses you expect.
- What schooling you can afford.
- Vacations.
- Other financial decisions.
You can also use these numbers to argue
persuasively for a more favorable alimony amount, different payment of
children's expenses, or other aspects of your financial settlement.
If you use this Income and Tax Calculator two
or more times, with alternative scenarios, you will be able to save
significant tax dollars immediately, by seeing:
-
The tax effects of making payments as alimony, as opposed to child support.
-
The tax effects of husband's versus wife's claiming the children as tax exemptions.
-
The tax and income effects of the husband paying the mortgage, versus the wife.
-
The tax and income effects of the husband paying child care expenses, versus the
wife.
-
The tax effects of filing jointly in your last year as husband and wife, versus
filing as "married filing separate."
-
The tax effects of "head of household" versus "single" filing status after the divorce.
How it Works:
- You fill in your best estimates (or alternate possibilities) for the husband's and wife's income and
expense numbers below. (Press <Tab>, not <Enter> after each
number.)
- When you have entered all the numbers, you click "Submit for
Calculation."
- We send you, via e-mail, the results of this calculator run, that is,
the total income, total deductions, Federal Income Tax and the bottom line
(income left after expenses and taxes).
- You use this information to make your decisions and make your case.
Click
here
for more tips on using this Calculator.
We will calculate the following, based on the numbers you enter:
- Federal income tax for each party.
- An estimate of state income tax for each
party.
- Gross income for each party.
- Total expenses for each party.
- Income after expenses and taxes for each
party.
Click here to return to the Income and Tax Calculator.
Email a friend about this calculator.
|
