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.

 
   
   
Jotkoff Financial Group

Brevard County
  1122 S Wickham Road
  W Melbourne, FL 32904-2442
  Tel: 321-984-7345
  Fax: 321-984-7344

Broward County
  12240 SW 53 Street, Suite 512
  Cooper City, FL 33330-3314
  Broward: 954-432-4033
  Dade: 305-625-9865
  Fax: 954-432-0383

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• Jotkoffgrp@Jotkoff.com

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