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.

 
   
   
Castanho Financial Group, LLC
1622 Main Street • East Hartford, CT • 06108
Phone: 860-289-2777 • Fax: 860-289-3343
• Office@CastanhoCPA.com

*Carl A. Castanho is a Registered Representative and Investment Adviser Representative of Equity Services, Inc. Securities and investment advisory services are offered solely by Equity Services, Inc., Member FINRA/SIPC, 333 East River Drive, East Hartford, Connecticut 06108; Tel: (860) 289-2777.

Carl A. Castanho offers securities in the following states: CA, CT, FL, MA, NY, RI.  Carl is also insurance-licensed in Connecticut.

Cornerstone Capital Group, LLC, and Castanho Financial Group, LLC, and all individuals referenced are independent of Equity Services, Inc. unless otherwise noted. Tax advice and accounting services are offered independently of Equity Services, Inc.
 

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