US Income Tax Estimator
Disclaimer: We assume you are a U.S. Citizen or Permanent Resident. We assume you have a valid Social Security number for tax purposes. We also assume you do not owe any back taxes to the IRS.
Helpful Taxpayer Notes
- Self-employment tax covers Social Security and Medicare. It's calculated at 15.3% of net self-employment income.
- Earned Income Tax Credit (EITC) is available to low-to-moderate income earners. The amount depends on your income and number of children.
- Child Tax Credit (CTC) provides up to $2,000 per qualifying child. Up to $1,700 can be refundable as the Additional Child Tax Credit (ACTC).
- To qualify for these credits, children must be U.S. citizens with valid SSNs and meet age, residency, and relationship rules.
- Always consult a certified tax professional for personalized advice.
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