2018 Simple Federal Tax Calculator
This 2018 Simple Federal Tax Calculator estimates your federal income tax liability based on your taxable income and filing status. The calculator uses the 2018 tax brackets and rates to provide a quick estimate of your federal income tax.
How to Use This Calculator
To use this calculator:
- Enter your total taxable income for 2018 in the "Taxable Income" field.
- Select your filing status from the dropdown menu.
- Click the "Calculate" button to see your estimated federal income tax.
- Review the result and any additional information provided.
The calculator will display your estimated federal income tax based on the 2018 tax brackets and rates. Keep in mind that this is an estimate and your actual tax liability may differ based on additional factors not included in this simple calculator.
How Federal Income Tax Works
Federal income tax is a tax imposed by the United States government on individuals and businesses. The tax is calculated based on your taxable income, which is your total income minus certain deductions and exemptions.
The federal income tax is progressive, meaning that the tax rate increases as your taxable income increases. The 2018 tax brackets and rates are as follows:
| Filing Status | Tax Brackets | Tax Rates |
|---|---|---|
| Single | $0 - $9,525 $9,526 - $38,700 $38,701 - $82,500 $82,501 - $157,500 $157,501 - $200,000 $200,001 - $500,000 $500,001+ |
10% 12% 22% 24% 32% 35% 37% |
| Married Filing Jointly | $0 - $19,050 $19,051 - $77,400 $77,401 - $165,000 $165,001 - $315,000 $315,001 - $400,000 $400,001 - $600,000 $600,001+ |
10% 12% 22% 24% 32% 35% 37% |
| Married Filing Separately | $0 - $9,525 $9,526 - $38,700 $38,701 - $82,500 $82,501 - $157,500 $157,501 - $200,000 $200,001 - $300,000 $300,001+ |
10% 12% 22% 24% 32% 35% 37% |
| Head of Household | $0 - $13,600 $13,601 - $51,800 $51,801 - $82,500 $82,501 - $157,500 $157,501 - $200,000 $200,001 - $500,000 $500,001+ |
10% 12% 22% 24% 32% 35% 37% |
The tax is calculated by applying the appropriate tax rate to each portion of your taxable income that falls within a specific tax bracket.
Tax Calculation Formula
The federal income tax is calculated using the following formula:
Federal Income Tax = Sum of (Taxable Income in Bracket × Tax Rate for Bracket)
Where:
- Taxable Income in Bracket is the portion of your taxable income that falls within a specific tax bracket.
- Tax Rate for Bracket is the tax rate applicable to that specific tax bracket.
For example, if your taxable income is $50,000 and you are filing as "Single," the tax calculation would be:
- $9,525 × 10% = $952.50
- ($38,700 - $9,525) × 12% = $3,516.60
- ($50,000 - $38,700) × 22% = $2,738.00
- Total Federal Income Tax = $952.50 + $3,516.60 + $2,738.00 = $7,207.10
Worked Examples
Example 1: Single Filer with $50,000 Taxable Income
For a single filer with $50,000 taxable income:
- $9,525 × 10% = $952.50
- ($38,700 - $9,525) × 12% = $3,516.60
- ($50,000 - $38,700) × 22% = $2,738.00
- Total Federal Income Tax = $952.50 + $3,516.60 + $2,738.00 = $7,207.10
The estimated federal income tax for this filer is $7,207.10.
Example 2: Married Filing Jointly with $100,000 Taxable Income
For a married filing jointly filer with $100,000 taxable income:
- $19,050 × 10% = $1,905.00
- ($77,400 - $19,050) × 12% = $6,664.80
- ($100,000 - $77,400) × 22% = $4,712.00
- Total Federal Income Tax = $1,905.00 + $6,664.80 + $4,712.00 = $13,281.80
The estimated federal income tax for this filer is $13,281.80.
Frequently Asked Questions
- What is the difference between taxable income and gross income?
- Taxable income is your gross income minus any deductions or exemptions that you are eligible for. Gross income is your total income before any deductions or exemptions are applied.
- How do I find my taxable income?
- Your taxable income is typically calculated by subtracting your deductions and exemptions from your gross income. You can find your taxable income on your tax return or by using a tax preparation software.
- What is the standard deduction for 2018?
- The standard deduction for 2018 was $6,350 for single filers, $12,700 for married filing jointly, $6,350 for married filing separately, and $9,400 for head of household.
- What is the difference between federal income tax and state income tax?
- Federal income tax is a tax imposed by the United States government on individuals and businesses. State income tax is a tax imposed by individual states on their residents. The rates and brackets for federal and state income taxes may differ.
- How do I pay my federal income tax?
- You can pay your federal income tax by mail, online, or in person at an IRS office. You can also set up automatic payments through your bank or tax preparation software.