Message Font: Serif | Sans-Serif
 
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: TMFTaxes Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121567  
Subject: Re: TAX Bracket Date: 7/21/1997 12:47 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 1
<<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
Roy
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next

Announcements

Disclaimer:
In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Economic Implications of Cuba
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement