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 2009 tax year, the standard deductions are as follows: single, $5,700; head of household, $8,350; married filing separately, $5,700; married filing jointly, $11,400.

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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.

 
   
   
Madison Wealth Managers
646 Plank Road, Suite 200
Clifton Park, NY 12065
Phone: 518.348.7770
Fax: 518.371.4718

100 Glen Street, Ste. 2A
Glens Falls, NY 12801
Phone: 518.338.3700
Fax: 518.338.3684

Toll Free: 888.376.6460
www.madisonmanagers.com • info@madisonmanagers.com

 Madison Wealth Managers, LLC  Call us at 888-376-6460 

 Pershing LLC, , a subsidiary of Bank of New York Mellon, custodian,
Securities offered through American Portfolios Financial Services, Inc. Member FINRA/SIPC.
Investment advisory services offered through American Portfolios Advisors, Inc., an SEC Registered Investment Advisor