Tax Calculators & Tools
Free calculators and estimators to help you plan your finances
Featured Calculators
FBAR Calculator
Determine if you need to file an FBAR (FinCEN 114) and calculate your foreign account reporting thresholds.
FEIE Calculator
Estimate your Foreign Earned Income Exclusion and see how much of your overseas income qualifies for tax-free treatment.
Cross-Border Calculator
Calculate your tax obligations across multiple jurisdictions and understand cross-border tax implications.
All Tools
Self-Employment Tax Calculator
The Self-Employment Tax Calculator helps freelancers, independent contractors, sole proprietors, and other self-employed individuals determine their self-employment (SE) tax liability for the current tax year. Unlike W-2 employees whose employers withhold and match Social Security and Medicare taxes, self-employed individuals must pay both the employee and employer portions of these taxes — a combined rate of 15.3% consisting of 12.4% for Social Security and 2.9% for Medicare. This calculator walks you through the complete SE tax computation, starting with your net self-employment income from Schedule C (or other self-employment sources), applying the 92.35% factor that simulates the employer-equivalent deduction, calculating the Social Security component up to the annual wage base limit, computing the Medicare component on all earnings with no cap, adding the Additional Medicare Tax of 0.9% for high earners, and determining the deductible half of SE tax that reduces your adjusted gross income on Form 1040. The calculator also accounts for situations where you have both self-employment income and W-2 wages, properly coordinating the Social Security wage base between the two income sources to avoid over-calculation. For cross-border self-employed individuals, the calculator includes an option to account for Totalization Agreement exemptions that may reduce or eliminate SE tax on foreign self-employment income earned in treaty partner countries. This tool is essential for any self-employed individual who needs to understand their total tax burden, plan for quarterly estimated payments, and make informed decisions about business structure, retirement contributions, and tax planning strategies.
Foreign Tax Credit Calculator
The Foreign Tax Credit Calculator helps U.S. taxpayers estimate the amount of credit they can claim on their federal tax return for income taxes paid or accrued to foreign countries. The Foreign Tax Credit (FTC) under IRC Section 901 is the primary mechanism for preventing double taxation of income that is taxed by both the United States and a foreign country. However, the FTC is not a simple dollar-for-dollar credit — it is subject to a limitation that ensures you cannot use foreign taxes to offset U.S. tax on U.S.-source income. This calculator performs the FTC limitation calculation prescribed by IRC Section 904, which limits the credit to the proportion of your U.S. tax that corresponds to your foreign-source taxable income relative to your total worldwide taxable income. The formula is: FTC Limitation = U.S. Tax x (Foreign Source Taxable Income / Worldwide Taxable Income). If your creditable foreign taxes exceed this limitation, the excess can be carried back one year or carried forward ten years. The calculator handles both the general category and passive category income baskets separately, as each basket has its own limitation. For taxpayers with Canadian income — one of the most common cross-border scenarios — the calculator includes pre-built support for Canadian federal and provincial tax credits, properly distinguishing between creditable income taxes and non-creditable levies such as CPP contributions and EI premiums. The calculator also models the interaction between the FTC and the Foreign Earned Income Exclusion, helping you understand how electing the FEIE affects your available Foreign Tax Credit by reducing both foreign-source income and the associated foreign taxes in the limitation calculation.
FBAR Threshold Checker
The FBAR Threshold Checker is a quick assessment tool that helps U.S. persons determine whether they are required to file a Report of Foreign Bank and Financial Accounts (FBAR, FinCEN Form 114) based on the aggregate value of their foreign financial accounts during the calendar year. The FBAR filing requirement applies to any U.S. citizen, resident alien, trust, estate, or domestic entity that has a financial interest in or signature authority over one or more financial accounts in a foreign country, if the aggregate value of all foreign financial accounts exceeds $10,000 at any time during the calendar year. This seemingly simple threshold is complicated by several factors that this checker helps you navigate. First, the $10,000 threshold is based on aggregate value — meaning the maximum values of all accounts are combined, even if no single account ever exceeded $10,000. Second, the threshold applies to the maximum value at any point during the year, not just the year-end balance. Third, the definition of 'financial account' is broader than most people realize, encompassing bank accounts, securities accounts, mutual funds, certain insurance policies with cash value, and potentially even some foreign retirement accounts. Fourth, 'financial interest' includes not only accounts you own directly but also accounts held by entities you control (more than 50% ownership), trusts where you are the beneficiary of more than 50% of assets or income, and other indirect ownership structures. This checker walks you through each of these considerations, helping you determine not just whether you meet the threshold but which specific accounts are reportable, ensuring you include all required accounts on your FBAR filing.
Estimated Tax Payment Calculator
The Estimated Tax Payment Calculator helps self-employed individuals, freelancers, investors, retirees, and anyone with significant non-wage income determine the correct quarterly estimated tax payment amounts to submit to the IRS throughout the tax year. If you expect to owe $1,000 or more in federal income tax (after subtracting withholding and credits) when you file your annual return, you are generally required to make quarterly estimated tax payments to avoid an underpayment penalty assessed on Form 2210. This calculator computes your estimated tax obligation using both available safe harbor methods: the current-year method (paying 90% of your estimated current-year tax) and the prior-year safe harbor method (paying 100% of your prior year's total tax liability, or 110% if your prior year AGI exceeded $150,000). It then recommends the payment amount that minimizes your cash flow impact while ensuring you avoid underpayment penalties. The calculator accounts for both income tax and self-employment tax, coordinates with any W-2 withholding you may have, and divides your total estimated obligation into four quarterly installments due on the standard dates of April 15, June 15, September 15, and January 15. For taxpayers whose income varies significantly throughout the year — common for seasonal businesses, freelancers with variable workloads, and investors with concentrated capital gains events — the calculator also includes an annualized income installment option that can reduce quarterly payments in lower-income quarters while increasing them in higher-income quarters, potentially reducing or eliminating penalties even when standard quarterly payments are uneven.
Expat Tax Obligation Estimator
The Expat Tax Obligation Estimator is a comprehensive tool designed to help American citizens and permanent residents living abroad estimate their total U.S. federal tax liability by modeling the interaction between worldwide income, the Foreign Earned Income Exclusion (FEIE), the Foreign Tax Credit (FTC), and other expat-specific provisions. As a U.S. citizen, you are taxed on your worldwide income regardless of where you live, but several powerful provisions can reduce or eliminate your U.S. tax bill. The challenge is understanding how these provisions interact and which combination produces the optimal result for your specific situation. This estimator models three scenarios side by side: (1) using the FEIE only (Form 2555), which excludes up to the annual limit of qualifying foreign earned income; (2) using the FTC only (Form 1116), which provides a dollar-for-dollar credit for foreign taxes paid; and (3) using a combination of both on different income types, which may produce the best result when you have both earned and unearned foreign income. The estimator accounts for the Foreign Housing Exclusion or Deduction, which allows you to exclude or deduct qualifying housing expenses above a base amount, the impact of the FEIE on your effective tax rate through the stacking rule (which ensures remaining taxable income is taxed at the rate that would apply if the excluded income were still included), and the state tax implications for expats who have not properly severed residency in their former state. For U.S. citizens in Canada specifically, the estimator includes pre-built support for modeling Canadian federal and provincial tax obligations alongside U.S. tax, helping you understand your combined cross-border tax burden and identify the optimal strategy for minimizing total taxes paid to both countries.
USD-CAD Tax Bracket Converter
The USD-CAD Tax Bracket Converter is a specialized tool designed for U.S.-Canada cross-border taxpayers who need to understand how their income translates between the two countries' tax systems. When you earn income in one country and must report it in the other, simply converting the dollar amount at the exchange rate does not give you a complete picture — you also need to understand where that income falls within each country's progressive tax bracket structure, what effective and marginal tax rates apply, and how provincial or state taxes interact with federal obligations. This converter takes your income in either USD or CAD, converts it to the other currency using current exchange rates, and then maps the converted amount to both the U.S. federal tax brackets and the Canadian federal tax brackets, showing you the applicable marginal rate in each system. It also includes Canadian provincial tax brackets for all ten provinces (with particular detail for Ontario, British Columbia, Alberta, and Quebec — the provinces with the largest U.S. expat populations) and U.S. state tax brackets for key states. The converter helps you understand the combined marginal tax rate you face in your country of residence, which is essential for making informed decisions about additional income, deductions, retirement contributions, and tax planning strategies. For cross-border commuters, dual-resident individuals, and those considering relocation between the U.S. and Canada, this tool provides a clear side-by-side comparison of how the same income would be taxed in each country, factoring in the different bracket thresholds, standard deductions (U.S.) versus personal amounts (Canada), and the overall tax structures.
State Tax Comparison Calculator
The State Tax Comparison Calculator allows you to compare your estimated state income tax liability across multiple U.S. states simultaneously, making it an invaluable tool for anyone considering relocation, evaluating remote work options, or planning a move abroad (where understanding your state tax severance implications is critical). State income tax rates vary enormously across the United States — from 0% in states like Florida, Texas, and Nevada to over 13% for high earners in California. But income tax is only part of the picture: states also vary significantly in their treatment of retirement income, capital gains, deductions, credits, and the taxation of non-residents who earn income within their borders. This calculator goes beyond simple rate comparisons to estimate your actual state tax liability based on your specific income level, filing status, and income types. It accounts for each state's bracket structure, standard deduction or personal exemption amounts, treatment of specific income types (retirement distributions, Social Security benefits, capital gains), and any notable credits or surcharges. The calculator is particularly useful for three groups: (1) domestic taxpayers comparing states for potential relocation to reduce their tax burden; (2) remote workers who may have multi-state tax obligations based on where they work versus where their employer is located; and (3) expatriates who need to understand the implications of maintaining or severing residency in their former state. For expats, the calculator highlights which states are most and least aggressive about taxing former residents, helping you understand the importance of properly establishing non-residency before or upon your departure from the United States.
Capital Gains Tax Calculator
The Capital Gains Tax Calculator helps investors, property owners, and cryptocurrency holders estimate the federal tax owed on gains from selling capital assets such as stocks, bonds, mutual funds, real estate, and digital assets. Capital gains taxation is one of the most important — and most frequently misunderstood — areas of U.S. tax law, with rates varying significantly based on the type of asset, how long you held it, your overall income level, and your filing status. This calculator handles both short-term capital gains (assets held one year or less, taxed as ordinary income at your marginal rate) and long-term capital gains (assets held more than one year, taxed at preferential rates of 0%, 15%, or 20% depending on your taxable income). The calculator also accounts for the Net Investment Income Tax (NIIT) — a 3.8% surtax on investment income for taxpayers with modified adjusted gross income exceeding $200,000 (single) or $250,000 (married filing jointly) — which can increase the effective tax rate on capital gains to as high as 23.8% for the highest earners. For real estate gains, the calculator includes special handling for the primary residence exclusion under IRC Section 121 ($250,000 single / $500,000 married filing jointly), depreciation recapture taxed at 25% under Section 1250, and the installment sale method for gains received over multiple years. For international investors and expats, the calculator addresses the interaction between capital gains and the Foreign Tax Credit, helping you understand how foreign taxes paid on asset sales can offset your U.S. capital gains tax liability. The calculator also handles the unique treatment of collectibles (taxed at 28%), qualified small business stock (potential exclusion under Section 1202), and wash sale adjustments that may affect your cost basis.
Rental Income Tax Calculator
The Rental Income Tax Calculator helps landlords and real estate investors estimate the federal tax liability on their rental property income by computing net rental income after all allowable deductions and applying the appropriate tax rates based on their overall tax situation. Rental income is reported on Schedule E of Form 1040 and is generally treated as passive income, subject to passive activity loss rules that may limit your ability to deduct rental losses against other income. This calculator walks you through the complete rental income tax computation, starting with gross rental income received during the year, then subtracting each category of deductible rental expense — including mortgage interest, property taxes, insurance, repairs and maintenance, property management fees, advertising, travel expenses for property visits, depreciation, and other ordinary and necessary expenses. The calculator automatically computes depreciation using the Modified Accelerated Cost Recovery System (MACRS), applying the 27.5-year straight-line method for residential rental property. It then applies the passive activity loss rules, including the $25,000 rental real estate exception for active participants with modified AGI under $100,000 (phased out between $100,000 and $150,000), and the real estate professional exception for those who spend at least 750 hours in real estate activities. For international property owners — such as U.S. citizens renting out property in Canada or vice versa — the calculator addresses the cross-border implications including withholding tax obligations, treaty-based reduced rates, and the interaction between foreign rental income and Foreign Tax Credits. Understanding the tax impact of your rental properties helps you make informed decisions about pricing, capital improvements, refinancing, and portfolio expansion.
AMT Risk Calculator
The AMT Risk Calculator helps taxpayers assess their potential exposure to the Alternative Minimum Tax (AMT), a parallel tax system designed to ensure that high-income individuals who benefit from certain tax preferences pay at least a minimum level of federal income tax. While the Tax Cuts and Jobs Act of 2017 significantly reduced the number of taxpayers subject to AMT by increasing exemption amounts and phase-out thresholds, the AMT remains a real concern for certain taxpayer profiles — particularly those with large state and local tax deductions (SALT), significant incentive stock option (ISO) exercises, substantial long-term capital gains, tax-exempt interest from private activity bonds, or large miscellaneous deductions. This calculator estimates your AMT liability by computing your Alternative Minimum Taxable Income (AMTI), which starts with regular taxable income and adds back common AMT preference items and adjustments. The most significant AMT adjustments include the disallowance of the SALT deduction (which is already capped at $10,000 for regular tax purposes but fully disallowed for AMT), the addition of ISO bargain element spread (the difference between the exercise price and fair market value when you exercise incentive stock options), the inclusion of private activity bond interest, and various timing differences in depreciation calculations. After computing AMTI, the calculator applies the AMT exemption (which phases out at higher income levels) and the AMT tax rates (26% on the first $220,700 of AMT income above the exemption, 28% on the excess) to determine tentative minimum tax. AMT is owed only if the tentative minimum tax exceeds your regular tax liability. For cross-border taxpayers, the calculator addresses how the Foreign Tax Credit interacts with AMT and whether foreign taxes can offset AMT liability.
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