Tax Estimator Calculator

The federal income tax system uses a progressive (marginal) bracket structure. This means your income is divided into portions, and each portion is taxed at a different rate. Only the income within each bracket is taxed at that bracket's rate — not your entire income. This calculator estimates your federal income tax, FICA taxes (Social Security and Medicare), and self-employment tax to show your total tax burden and take-home pay.

• Maximize your 401(k) contributions to reduce taxable income — every dollar contributed saves you taxes at your marginal rate.
• If you're self-employed, remember you can deduct half of your self-employment tax from your gross income.
• Consider contributing to an HSA if you have a high-deductible health plan — it's a triple tax advantage (deductible, grows tax-free, tax-free withdrawals for medical expenses).
• Your effective tax rate is always lower than your marginal rate — don't fear moving into a higher bracket, only the income above the threshold is taxed at the higher rate.
• If your itemized deductions are close to the standard deduction, consider 'bunching' deductions into alternating years to maximize the benefit.
• Review your withholding annually — owing a small amount at tax time is better than giving the government an interest-free loan via a large refund.

Alex is a single filer earning $95,000 per year. He contributes $6,000 to his 401(k) and takes the standard deduction.

• 1IRS — Tax Brackets and Rates 2026
• 2IRS — FICA Tax Rates
• 3Tax Foundation — Federal Tax Brackets