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.

 
   
   
BlueChip Financial Advisors
22 Hemingway Dr. • East Providence, RI • 02915
Phone: (401) 435-4239 • Fax: (401) 435-5060
www.bcfa.net • jalemme@bcfa.net

 

 

 

Registered Investment Advisory Representatives of Bluechip Financial Advisors (BCFA) offer advisory services through BCFA.  They may also offer other products and services (i.e. accounting, insurance, employee benefits, etc) that are independent of BCFA services.  Securities offered through Triad Advisors, Inc.  Member FINRA/SIPC.  Investment Advisory Services offered through BCFA. BCFA is not a subsidiary or affliate of Triad Advisors, Inc.   Clearing, custody, or other brokerage services may be provided by National Financial Services LLC. or Fidelity Brokerage Services LLC.  Members NYSE, SIPC