MBR Financial, Inc.
2000 West Loop South
Ste. 1510
Houston, TX 77027
832-667-8787
281-974-2108
contactus@mbrfinancial.com
 
 




Federal Income Tax Estimator 2018
Federal Income Tax Estimator 2018

Year
Tax Filing Status
Gross Income
Enter total income that is subject to income tax (minimum $1) including long-term capital gain and qualifying dividends
Long-Term Capital Gains
Enter amount of net long-term capital gains included in Gross Income, above
Qualified Dividends
Enter amount of qualified dividends included in Gross Income, above
Adjustments to Income
Enter total amount of above-the-line deductions (e.g., HSA deduction, IRA deduction)
Elect to Itemize Deductions
If filing status is married filing separately, both spouses should make the same election.
Standard Deduction Adjustments
You Age 65 or older
Blind
Your Spouse Age 65 or older
Blind
Check appropriate boxes even if entering itemized deductions
Itemized Deductions
Medical and Dental Expenses
Allowable amount (above 7.5% or 10% of AGI floor) will be calculated
State and Local Taxes Deduction
Maximum: $10,000 ($5,000 if married filing separately)
Home Mortgage Interest Deduction
Investment Interest Deduction
Charitable Gifts Deduction
Casualty Loss Deduction
Other Itemized Deductions
Qualified Business Income Deduction
Deduction is available whether or not you itemize deductions.
Total Tax Credits
Do not include federal income tax withholding or estimated tax payments


Assumptions:

This is a hypothetical example intended for illustration purposes only.

This calculator considers only the general capital gain tax rates applicable to long-term capital gains, it does not consider any specialized capital gain tax rates.

This calculator adjusts the regular standard deduction only for old age and blindness.

The calculator limits the allowable amount of the charitable gift deduction to 60% of adjusted gross income (note that the amount actually allowed may be less, depending upon the gift recipient and the type of property donated).

This calculator does not take into consideration that certain credits may be refundable if they exceed tax liability.

For purposes of the alternative minimum tax, this calculator considers only adjustments for: the itemized deductions entered and the standard deduction. Any other adjustments and tax preferences are not taken into account.

This calculator does not calculate any state taxes.

This calculator reduces the qualified business income deduction to the extent that the deduction exceeds 20% of taxable income (as reduced by long-term capital gains and qualified dividends). For this purpose, taxable income is computed without regard to this deduction.



IMPORTANT DISCLOSURES Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, legal, or retirement advice or recommendations. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable — we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.

Prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2019.