www.and.co - Quarterly Tax Calculator (Federal only)
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With AND CO your personal Chief Operator will calculate your quarterly taxes for you.
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Filing Status:Married Single
Married Filing Separate
Head of Household
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Standard Deduction:12,600.006,300.006,300.009,300.00
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Exemption:4,000.00
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Standard Deduction:6,300.00
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Filing Status:MFSEnter Info
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Dependents:2Enter Info
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Is your company an S Corp?noEnter Yes or No
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Tax Projection
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Wages from Other Jobs$0Enter Info
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Business Income$120,000Enter Info
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Adjusted Gross Income$120,000
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Itemized Deductions (6,300)
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Personal Exemption (12,000)
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Taxable Income 101,700
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Tax on Taxable Inc 21,969
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Self Employment Tax 16,955
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Payments (35,032)
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Liability or (Refund) 3,892
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Average Tax Rate38.27%
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Potential Savings as an S Corp
16,955
>>>>>>>>>>>>>>>>>
Form 2553 S Corp Election required
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Payments
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Q1 EST 8,758
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Q2 EST 8,758
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Q3 EST 8,758
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Q4 EST 8,758
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Total 35,032
>>>>>>>>>>>>>>>>>
90% of taxes for the year
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Due Dates
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4/18/2016
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6/15/2016
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9/15/2016
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1/17/2017
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Estimated Tax: 38,924
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Check
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HOHMFSMFJCheckSingle
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19,722.50 21,968.75 16,967.50 FALSE 21,512.75 tax brackets
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ESTIMATED TAXES - IRS (FEDERAL)
Action Needed
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Legend for Filing Status
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SingleSingle
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Married Filing JointMFJ
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Married Filing SeparateMFS
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Head of HouseholdHOH(Not Married, but has dependents)
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Married Filing Joint (MFJ)
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If Taxable income isThe Tax is
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Not over 18,550.00 10%
of the taxable income
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Over 18,550.00 But not over 75,300.00 1,855.00 plus15%
of excess over
18,550.00
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Over 75,300.00 But not over 151,900.00 10,367.50 plus25%
of excess over
75,300.00
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Over 151,900.00 But not over 231,450.00 29,517.50 plus28%
of excess over
151,900.00
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Over 231,450.00 But not over 413,350.00 51,791.50 plus33%
of excess over
231,450.00
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Over 413,350.00 But not over 466,950.00 111,818.50 plus35%
of excess over
413,350.00
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Over 466,950.00 But not over 130,578.50 plus39.6%
of excess over
466,950.00
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Single
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If Taxable income isThe Tax is
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Not over 9,275.00 10%
of the taxable income
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Over 9,275.00 But not over 37,650.00 927.50 plus15%
of excess over
9,275.00
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Over 37,650.00 But not over 91,150.00 5,183.75 plus25%
of excess over
37,650.00
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Over 91,150.00 But not over 190,150.00 18,558.75 plus28%
of excess over
91,150.00
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Over 190,150.00 But not over 413,350.00 46,278.75 plus33%
of excess over
190,150.00
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Over 413,350.00 But not over 415,050.00 119,934.75 plus35%
of excess over
413,350.00
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Over 415,050.00 But not over 120,529.75 plus39.6%
of excess over
415,050.00
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Married Filing Separate (MFS)
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If Taxable income isThe Tax is
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Not over 9,275.00 10%
of the taxable income
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Over 9,275.00 But not over 37,650.00 927.50 plus15%
of excess over
9,275.00
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Over 37,650.00 But not over 75,950.00 5,183.75 plus25%
of excess over
37,650.00
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Over 75,950.00 But not over 115,725.00 14,758.75 plus28%
of excess over
75,950.00
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Over 115,725.00 But not over 206,675.00 25,895.75 plus33%
of excess over
115,725.00
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Over 206,675.00 But not over 233,475.00 55,909.25 plus35%
of excess over
206,675.00
100
Over 233,475.00 But not over 65,289.25 plus39.6%
of excess over
233,475.00
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Short Formula - Estimated Taxes
Long Formula
State Income Tax