This calculator is a PHP University Project.
You can watch a time-lapse video of its construction on YouTube.

NOTE: This U.S. Federal Individual income tax calculator shows the estimated personal taxes owed by both individuals and married couples, whether employeed or self-employeed.

The 2013 income tax calculations are what the law currently specifies will be owed by Americans in the year 2013, unless Congress (beleaguered by the debt ceilling, a Presidential election, and massive looming automatic budget cuts) has the time and wherewithal to change the law.

The numbers are pretty troubling: 24% more taxes for the typical family. Leading economists have started stating that if the fiscal cliff isn't resolved, it could lead to a 20% market correction by March 2013.

But this is just part of the looming Fiscal Cliff [] that awaits us, that could be much more worse than people have predicted so far. It is speculated by leading theorists and politicians that there is a 70% chance the taxes will be owed if Obama is re-elected, and 30% if Romney is.


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Tax Liability

Yes! Congress took action and *permanently* fixed the Alternative Minimum Tax, which would have been much worse than what's listed.

2013-01-03 14:02 EST UPDATED FOR THE FISCAL CLIFF COMPROMISE~! The calculator is now using the final tax rates according to the IRS.

  2012 2013 2016 2017
Mode: Married: Joint
Gross Income: $60,000.00 $60,000.00 $60,000.00 $60,000.00
Federal Income Tax: $6,345.00 $6,275.00 $6,182.50 $6,162.50
Social Security Tax: $2,520.00 $3,720.00 $3,720.00 $3,720.00
Medicare Tax: $870.00 $870.00 $870.00 $870.00
Additional Medicare Tax:
Total Tax Liability: $9,735.00 $10,865.00
($1,130.00; +11.61% more)
$10,772.50 $10,752.50
Net Income: $50,265.00 $49,135.00 $49,227.50 $49,247.50

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Federal Corporate Income Tax Calculator

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