1. What is Tax Calculation?

The tax calculation estimates your total tax burden based on salary, state of residence, and filing status. It includes Federal Income Tax, State Income Tax (where applicable), and FICA (Social Security and Medicare) taxes.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• Federal Tax — Calculated based on IRS tax brackets for your filing status
• State Tax — Varies by state (some states have no income tax)
• FICA — Social Security (6.2% up to wage base) + Medicare (1.45%)

3. Importance of Tax Calculation

Details: Understanding your tax burden helps with financial planning, budgeting, and ensuring proper withholding from your paycheck.

4. Using the Calculator

Tips: Enter your annual salary, select your state of residence and filing status. The calculator will estimate your Federal, State, and FICA taxes.

5. Frequently Asked Questions (FAQ)

Q1: Why are my actual taxes different?
A: This is an estimate. Actual taxes depend on deductions, credits, and other factors not included here.

Q2: What about local taxes?
A: Some cities have local income taxes that aren't included in this calculator.

Q3: How accurate is the FICA calculation?
A: Social Security tax stops after $147,000 (2022 wage base). Medicare has no cap.

Q4: Why no state tax for Texas/Florida?
A: These states don't have state income tax (they fund government through other taxes).

Q5: What's the difference between single and married filing?
A: Married filers typically have wider tax brackets and may qualify for additional deductions.