Tax Calculator - Excel

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					Form B22C Estimated Tax Calculator
INCOME & PAYROLL TAXES: For Wage Earners Only

Form 22 Line 11. . . . . . .   $     7,919.20      x 12 months =       $        95,030
                                                                     Estimated Current
          Description              Prior Year    Effective Tax Rates     Year Taxes

Federal AGI                    $       87,736
Federal Tax Liability          $       10,574             12.05% $              11,451
State Tax Liability (est'd)    $         4,280             4.88% $                4,637
City Tax Rate                                              2.44% $                2,319
County Tax Rate                                            0.00% $                        -
                               TOTALS                     19.37% $              18,407

FICA TAXES
          Description              Prior Year    Effective Tax Rates       Current Year

Social Security Tax (H)        $       51,158              6.20% $                3,172
Medicare Tax (H)               $       51,158              1.45% $                  742
Social Security Tax (W)        $       36,578              6.20% $                2,268
Medicare Tax (W)               $       36,578              1.45% $                  530
                                      TOTALS                           $          6,712


SUMMARY:
Income & Payroll Taxes                                    19.37% $              18,407
FICA Taxes                                                 7.65% $               6,712
                   COMBINED TOTALS                        27.02% $              25,119

To Form B22C Line 30: Other Necessary Expenses: Taxes-->               $      2,093.25

				
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Description: This doc shows you how to calculate your own taxes. There are taxes to be paid to the Federal, State, CIty, and County Government plus FICA Taxes.