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.

 
   
   
Gemini Financial Services, Inc.
8373 Piney Orchard Parkway Suite 100 • Odenton, MD • 21113
Phone: 410-672-5500 or call us Toll free
1-866-GEMINI2 (436-4642)		 • Fax: 410-672-7900
• dmagayna@gemini-advisors.com

Securities and Investment Advisory Services offered through H Beck, Inc., Member FINRA/SIPC.

Gemini Financial Services, Inc. and H Beck, Inc are unaffiliated companies.

We are licensed to offer securities and investment advisory services in MD, NY, PA, CO, KS and WV. We are licensed to offer insurance products in MD,  PA, NY, OH and WV. No services, investment or insurance products are offered outside of those states.

Certified Financial Planner Board of Standards, Inc. owns the certification marks CFP®, Certified Financial Planner™, and Extra small flame logo in the U.S., which it awards to individuals who successfully complete CFP Boards initial and ongoing certification requirements.