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<<How can I calculate what tax bracket I will be ?
eg. How much I have to pay in taxes if I earn
50 K 60K 75 K & 90K. all figures hypothetical
and idea is here to know some idea of taxes. forget
deductions ( consider standard deduction)and other stuff!>>

Well, you can do it any number of ways, Paula.

You can sharpen your pencil, get a copy of the 1996 tax forms, and do the computations for the various senarios. But be sure that you allocate a BUNCH of time to complete this. But at least in the package you'll find the tax tables for YOUR specific situation.

The new version of Quicken (5.0 for Windows) includes a tax planning tool that will allow you to compute your tax liability for a number of variable factors. If you use Quicken, you should check it out. If not, you might want to consider buying Quicken for your personal financial planning purposes.

If you want to go directly to the source, you can pick up a 1996 TurboTax program. The TurboTax program also has a planning tool built in. You can change the various variables and do the tax computations with the touch of a button. I think that you can buy the 1996 TurboTax programs for less that $20 this time of year. A very reasonable investment.

And while you will still be using 1996 rates, the results will be very "close" to reality. And the program will even allow you to adjust the tables (index them) for a projected inflation rate for 1997. You'll be able to look at a whole truckload of different outcomes with just the touch of a button.

Hope this helps..
TMF Taxes
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