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 2011 tax year, the standard deductions are as follows: single, $5,800; head of household, $8,500; married filing separately, $5,800; married filing jointly, $11,600.

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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.

 
   
   
Sears Group, Inc. : Virginia Beach, VA : Michael H Sears
5724 Princess Anne Rd • Virginia Beach, VA • 23462
Phone: (888) 253-8658
• msears@searsgroupinc.com

Consultant, Michael H. Sears, 5724 Princess Anne Road, Suite 101, Virginia Beach, VA 23462 • (757) 456-9124 • Fax: (757) 456-5124
Securities offered through Questar Capital Corporation (QCC) Member FINRA/SIPC (888) 446-5872; 5701 Golden Hills Drive Minneapolis, MN 55416-1297
Advisory Services offered through Questar Asset Management (QAM), a Registered Investment Advisor. Sears Group, Inc. is independent of QCC and QAM.