Comprehensive Tax Calculator
Using 2025 Federal & 2024 State Tax Laws (Filed in 2025)
Used for credits & IL exemption.
Income & AGI Adjustments
Total income from W2 jobs.
Net income after business expenses (Gross - Expenses).
Deductible amount, up to $2,500.
Deductible amount (check AGI limits).
Deductible amount, up to $300.
Capital Gains & Losses
Use negative for loss (e.g., -5000)
Use negative for loss (e.g., -5000)
From prior years (e.g., -3000)
Federal Tax Credits
Total expenses paid for care (max $3k/1, $6k/2+).
Tuition & fees for AOTC/LLC (per student).
Itemized Deductions (Below-the-Line)
Only the amount over 7.5% of your AGI is deductible.
Capped at $10,000 for federal deductions.
Your 2025 Tax Projection
Effective Tax Rate
0.00%
(Total tax as a percentage of gross income)
Marginal Tax Rate
0.00%
(Tax on your next dollar of income)
Calculation Breakdown
Annual Gross Income:
$0
Capital Loss Deduction:
-$0
Adjusted Gross Income (AGI):
$0
Deduction Type:
N/A
Ordinary Taxable Income:
$0
Net Long-Term Capital Gains:
$0
Federal Ord. Tax (Pre-Credit):
$0
Federal LTCG Tax:
$0
(-) Non-Refundable Credits:
-$0
(-) Child Tax Credit:
-$0
(-) Refundable Credits:
-$0
Total Federal Tax:
$0
State Taxable Income (N/A):
$0
State Tax:
$0
Local Tax (N/A):
$0
Payroll Tax (FICA/SE):
$0
Total Tax Liability:
$0