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 2012 tax year, the standard deductions are as follows: single, $5,950; heads of households $8,700; married filing separately, $5,950; married filing jointly, $11,900.

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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.

 
   
   
Ken Byers & Associates
7710 Shawnee Run Road • Cincinnati, OH • 45243
Phone: (513) 561-0011 • Fax: (513) 561-7275
• ken@kenbyers.com

Fee-based planning offered through CFC Agency, Inc. a State Registered Investment Advisor. Third Party Money Management offered through ValMark Advisers, Inc. a SEC Registered Investment Advisor. Securities offered through ValMark Securities, Inc., Member FINRA SIPC. 130 Springside Drive, Suite 300, Akron, Ohio 44333-2431 * 1-800-765-5201 CFC Agency, Inc., and Ken Byers & Associates are separate entities from ValMark Securities, Inc. and ValMark Advisers, Inc.


Any tax advice contained herein is of a general nature and is not intended for public dissemination. Further, you should seek specific tax advice from your tax professional before pursuing any idea contemplated herein. This advice is being provided solely as an incidental service to our business as (insurance professionals, financial planners, investment advisors).