Finance...

This Calculator lets you see a number of things on an after-tax basis very quickly. Some examples:

• Quick estimate of bottom line. How do the basic economics look for each of you? You can use this Calculator to get a quick picture.
• Alimony versus Child support. Change a payment from alimony to child support and see the effect on after-tax income of both parties.
• Who claims the exemptions for the children. Change the number of exemptions of each party, and see the effect on after-tax income of both parties.
• Who pays the mortgage. Change which party pays the mortgage, and see the after-tax impact.
• Who pays day care expenses. We assume that these expenses qualify for the child care credit, and we show the after-tax effect of paying the day care expenses.
• Filing status in last year together. You can use this Calculator to see whether you should file jointly or separately in your last year you are living together. Enter each of your incomes, enter "married filing separately" ("3") as the filing status. Add together the tax in each column. Then enter your combined income in one of the columns and enter a filing status of "married filing joint" ("2"). Note that tax. Compare that total tax to the total of the separate taxes.
• Filing status after divorce. The person who has a child living with him can usually claim the filing status of "head of household" ("4"). You can try that filing status, and compare the tax to the tax you get with a filing status of "single" ("1"). This helps you see the tax benefit for you of the head of household filing status. This can be a factor in deciding physical custody.

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Disclaimer: We are not giving legal advice. No warranties. We disclaim all legal liability. More...