Curious how much you might pay in federal and state taxes this year? Most people can use some form of IRS Form 1040 to determine how much they'll pay in income taxes—and whether they’ll owe money to Uncle Sam or qualify for a refund. Each state also has different tax forms and rules that determine how much you have to pay. Show
Use our 1040 income tax calculator to estimate how much tax you might pay on your taxable income.
After-Tax Income$57,688Federal taxes Marginal tax rate 22% Effective tax rate 11.98% Federal income tax $8,387 State taxes Marginal tax rate 6.33% Effective tax rate 5.61% New York state tax $3,925 Gross income $70,000 Total income tax -$12,312 After-Tax Income $57,688 Disclaimer: Calculations are estimates based on tax rates as of Dec. 2021 and data from the Tax Foundation. These rates are subject to change. Check the IRS website for the latest information about income taxes and your state tax website for state-specific information. Our calculator doesn’t consider both 401k and IRA deductions due to the tax law limitations. Please note, the amount of your IRA deductions may vary. You should speak with a tax professional to determine your tax situation. Savings Account Promotions for 2022Featured Tax Software Partner
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Click on the income amounts below to see how much tax you may pay based on the filing status and state entered above.
View how much tax you may pay in other states based on the filing status and state entered above.
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Frequently asked questions Enter some simple questions about your situation, and TaxCaster will estimate your tax refund amount, or how much you may owe to the IRS. Our tax calculator stays up to date with the latest tax laws, so you can be confident the calculations are current. The results are only estimates however, as various other factors can impact your tax outcome. When you file with
TurboTax, we’ll guide you step by step to ensure your taxes are done accurately. Start TurboTax for free To lower the amount you owe, the simplest way is to adjust your tax withholdings on your W-4. Our W-4 Calculator can help you determine how to update your W-4 to get your desired tax outcome. There are a variety of other ways you can lower your tax liability, such as:
Read more tips from TurboTax experts The standard deduction is a set amount based on your filing status. Itemized deductions are ones you can claim based on your yearly expenses. It makes sense to choose whichever will yield you the greatest tax break, but if you choose to itemize deductions, you’ll need to keep track of your expenses and have receipts or documentation ready. Read more about standard and itemized deductions More about tax refundsTAX PLANNING 8 Common Life Events That Affect Your TaxesSee how life events like getting married, going back to school, or having a child can change your tax refund. Read more TAX REFUND 12 Smart Things to Do With Your Tax Refund Anticipating a tax refund after using our tax refund estimator? Set yourself up for the future by making smart Read more TAXABLE INCOME What Is Adjusted Gross Income (AGI)?When you file your taxes, your adjusted gross income (AGI) can impact your eligibility for deductions and credits that can boost your tax refund. Read more TAX DEDUCTIONS AND CREDITS What Are Tax Credits?Tax credits can reduce how much income tax you owe, and can add to your tax refund. However, tax credits come with requirements you must satisfy before claiming them. Read more |
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