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 2009 tax year, the standard deductions are as follows: single, $5,700; head of household, $8,350; married filing separately, $5,700; married filing jointly, $11,400.

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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.

 
   
   
New Jersey Financial Advisor Firm, Employee Benefits Advisor, Retirement Planning Advisor - James J. Varaklis & Company
3 Werner Way
Suite 204		 • Lebanon, NJ • 08833
Phone: Toll Free: 888-849-5580
Local: 908-849-4800 		• Fax: 908-849-4803
www.JJVCO.com • james@jjvco.com

Securities offered through LPL Financial, Member FINRA and SIPC.

Registered Representatives of LPL Financial whose identities and associations with James J. Varaklis & Company are disclosed on this site may only discuss Securities or Transact Business with persons who are residents of the following states:  California, Connecticut, Florida, Massachusetts, Maine, Maryland, North Dakota, New Jersey, New York, Pennsylvania, South Carolina and Virginia.