tax calculatio

8/10/2019 tax calculatio

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Federal and State of California Tax Planner

Federal and State of California Tax Planner Spreads

2014 Single Filing Status

Quick Instructions

1. Fill in your primary W2 income in cells N38 through N49.

2. If you have a second source of W2 income, fill in cells R38 through R49.

3. Fill in cells B24 through B34 with other income sources (savings account interest, stock/bond divide

4. Fill in cells F21, and F24 through F33 with deductable expenses.

5. Fill in cell F61 with your federal withholding tax, and cell J46 with your state withholding tax.

6. Fill in cell B74 with your number of dependents.

7. If you have schedule C income, fill in cells N54 through N65, and associated expenses in cells R54

8. If you make federal estimated tax payments, fill in cells N70 through N81, and likewise for state esti

9. Only the gray color cells are editable.

10. All calculations are recomputed immediately after you make any change to a gray colored cell. Th

11. For easier navigation, maximize the Excel window and this spreadsheet, increase your display res

Federal Income Federal Deductions

0.00 Primary Job W2 0.00

0.00 Second Job W2 0.00

0.00 Schedule C 0.00

0.00 Bank #1 Interest 0.00


0.00 Money Market #1 Interest 0.00


0.00 Nontaxable State Interest 0.00

0.00 Stock/Fund Qualified Div 0.00

0.00 Stock/Fund ST Div/Gains 0.00

0.00 Stock/Fund LT Cap Gains 0.000.00 Stock/Fund 60mo Cap Gains 0.00

0.00 CA Tax Refund 0.00

0.00 Other Income

0.00

0.00 Total Federal Gross 0.00

6,200.00

Federal Income Adjustments

0.00 Schedule C Expenses 3,950.00

0.00 1/2 SE Tax 0.00

0.00 Health Insurance Premium 3,950.00

0.00 Capital Losses This Year

0.00 Other Deductions 0.00

0.00 Total Federal Adjustments Federal Taxes Owed

0.00

Federal Income and Deduction Summary 0.00

0.00 Federal Adj Gross Income 0.00

0.00 Net Schedule C Income 0.00

0.00 Capital Losses Carryover 0.00

0.00 LT Cap Gains Taxable 0.00


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0.00 60mo Cap Gains Taxable 0.00

0.00 Net Qualified Inc Taxable

0.00 Medical Deducts Inc Threshold 0.00

0.00 Misc Deducts Inc Threshold 0.00

0.00 Deducts Subject to Threshold 0.00

0.00 Charity Deducts Threshold

0.00 Net Income 0.000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00

Federal Parameters California Parameters

1 Number of Dependents YES

0 Blind and/or Over 65 NO

YES Computed State Tax Deduction 0

YES One Wage Earner 0

NO Round tax due to the dollar 1.00%

10.00% Fed Tax Rate 10% 7,582.00

9,075.00 Fed Income 15% 75.82

907.50 Fed Tax 15% 2.00%15.00% Fed Tax Rate 15% 17,976.00

36,900.00 Fed Income 25% 283.70

5,081.25 Fed Tax 25% 4.00%

25.00% Fed Tax Rate 25% 28,371.00

89,350.00 Fed Income 28% 699.50

18,193.75 Fed Tax 28% 6.00%

28.00% Fed Tax Rate 28% 39,384.00

186,350.00 Fed Income 33% 1,360.28

45,353.75 Fed Tax 33% 8.00%

33.00% Fed Tax Rate 33% 49,774.00

405,100.00 Fed Income 35% 2,191.48

117,541.25 Fed Tax 35% 9.30%35.00% Fed Tax Rate 35% 254,250.00

406,750.00 Fed Income 39.6% 21,207.75

118,118.75 Fed Tax 39.6% 10.30%

39.60% Fed Tax Rate 39.6% 305,100.00

15.00% Fed LT Cap Gains Tax Rate 26,445.30

15.00% Fed 60mo Cap Gains Tax Rate 11.30%

0.00% Fed Low Income CG Tax Rate 508,500.00

20.00% Fed High Cap Gains Tax Rate 49,429.50


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heet

nds, etc.).

through R65.

mated tax in cells R70 through R81.

e "Taxes Owed" and "Taxes Due" areas show what taxes you may owe.

olution, and/or decrease the zoom factor in this spreadsheet.

California Income

Mortgage Interest 0.00 Federal Adjusted Gross

CA State Income Taxes 0.00 CA State-Only Taxable Income

CA SDI/VPDI 0.00 Minus CA Tax Refund

Local/City Income Taxes 0.00 Minus Nontaxable Income

CA Prior Year State Inc Taxes

Property Taxes 0.00 Total CA Gross

Personal Property Taxes

Home Loan Points California Deductions

Cash Donations 0.00 Fed Deducts w/o CA Inc Taxes

Noncash Donations 0.00 Limitation

Other Deductions 3,906.00 Adjusted DeductionsMedical and Dental

Miscellaneous 2% Deductions 0.00 Taxable CA Income

Total Gross Deductions California Taxes Owed

Limitation 0.00 State Income Tax

Adjusted Deductions 0.00 Other Taxes

0.00 Local/City Income Tax

Personal Deductions 0.00 CA SDI/VPDI Withheld

Limitation 0.00 CA SDI/VPDI Overpayment

Adjusted Pers Deductions 106.00 Adjusted Pers Exemptions

Taxable Federal Income 0.00 Normal Tax Due0.00 Normal + AMT Tax Due

Income Tax 0.00 Tax Withheld

Other Taxes 0.00 Prior Year AMT Carryforward

Medicare Withheld 0.00 Tax Credits

Medicare Surtax 0.00 Estimated Tax Total Due

Medicare Surtax over/underpaid 0.00 Estimated Paid to Date

FICA Withheld 0.00 CA Tax Remaining


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FICA Overpayment

Federal Alternative Minimum Tax

SE FICA Tax 6,200.00 Adjustments and Preferences

SE Medicare Tax 0.00 Other Adjustments/Prefs

Total SE Tax 0.00 AMT Capital Gains Basis

0.00 AMT Taxable Income

Normal Tax Due 52,800.00 AMT ExemptionNormal + AMT Tax Due 0.00 AMT Net Income

0.00 AMT Computed Tax

Tax Withheld 0.00 AMT Tax Credits

Prior Year AMT Carryforward 0.00 Tax Owed by AMT

Tax Credits

Child Tax Credit California Alternative Minimum Tax

Estimated Tax Total Due 3,906.00 Adjustments and Preferences

Estimated Paid to Date 0.00 Other Adjustments/Prefs

Federal Tax Remaining 0.00 AMT Taxable Income

63,481.00 AMT Exemption

0.00 AMT Net Income

0.00 AMT Computed Tax0.00 Tax Owed by AMT

Legend

CA SDI Deductable Income

Round tax due to the dollar Taxes Owed

Child Tax Credit Dependents Remaining Taxes Due

Number of Dependents Tax Summary Information

CA Tax Rate 1% User-editable cell

CA Income 2% normal font normal data entry

CA Tax 2% boldface summation data entry

CA Tax Rate 2% title heading/subheadingCA Income 4% prose cell definition

CA Tax 4% 0.00 cell with narrative explanation

CA Tax Rate 4% 123.45 positive numeric value

CA Income 6% (123.45) negative numeric value

CA Tax 6% 2.90% percentage (example: 0.029)

CA Tax Rate 6%

CA Income 8%

CA Tax 8%

CA Tax Rate 8%

CA Income 9.3%

CA Tax 9.3%

CA Tax Rate 9.3%CA Income 10.3%

CA Tax 10.3%

CA Tax Rate 10.3%

CA Income 11.3%

CA Tax 11.3%

CA Tax Rate 11.3%

CA Income 12.3%

CA Tax 12.3%


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CA Tax Rate 12.3%

CA Mental Health Surtax

CA Mental Health Income

CA Pers Limit Income

CA Pers Limit Rate

CA SDI/VPDI Tax Rate

CA SDI/VPDI Income MaxCA SDI/VPDI Tax Max

CA Standard Deduction

CA Pers Exemption Div


CA Pers Exemption

CA Dep Pers Exemption

AMT Income Exemption

AMT Income Exemption Limit

AMT Income Exemption Rate

AMT Low Income Tax Rate

AMT Medical Deduction Rate


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Taxes Due Summary

0.00 Total Fed/CA Tax

0.00 Total Fed Tax

0.00 Total CA Tax

0.00 Medicare

0.00 SE Tax

0.00 FICA

0.00 Est Fed/CA Total Tax

0.00 Est Fed Total Tax

0.00 Est CA Total Tax

0.00 Est Fed Tax Paid to Date

0.00 Est CA Tax Paid to Date0.00 Est Fed/CA Tax Paid to Date

0.00 Fed Tax Remaining

0.00 CA Tax Remaining

0.00 Fed/CA Tax Remaining

Primary Job W2 Income Second Job W2 Income

0.00 January 0.00 January

0.00 February 0.00 February

0.00 March 0.00 March

0.00 April 0.00 April

0.00 May 0.00 May

0.00 June 0.00 June0.00 July 0.00 July

0.00 August 0.00 August

0.00 September 0.00 September

0.00 October 0.00 October

0.00 November 0.00 November

0.00 December 0.00 December

0.00 Total Income 0.00 Total Income


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Schedule C Income Schedule C Expenses





0.00 May 0.00 May0.00 June 0.00 June

0.00 July 0.00 July






0.00 Total Income 0.00 Total Expenses

Federal Estimated Tax Payments California Estimated Tax Payments

0.00 January 0.00 January0.00 February 0.00 February



0.00 May 0.00 May

0.00 June 0.00 June

0.00 July 0.00 July






0.00 Total Est Tax Paid 0.00 Total Est Tax Paid


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2014 Married Joint Filing Status

Quick Instructions

























0.00 Other Income

0.00


12,400.00



0.00 1/2 SE Tax 0.00





0.00







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0.00 Net Income 0.000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00





NO One Wage Earner 0


10.00% Fed Tax Rate 10% 15,164.00

18,150.00 Fed Income 15% 151.64


73,800.00 Fed Income 25% 567.40

10,162.50 Fed Tax 25% 4.00%

25.00% Fed Tax Rate 25% 56,742.00

148,850.00 Fed Income 28% 1,399.00

28,925.00 Fed Tax 28% 6.00%

28.00% Fed Tax Rate 28% 78,768.00

226,850.00 Fed Income 33% 2,720.56

50,765.00 Fed Tax 33% 8.00%

33.00% Fed Tax Rate 33% 99,548.00

405,100.00 Fed Income 35% 4,382.96


457,600.00 Fed Income 39.6% 42,415.50

127,962.50 Fed Tax 39.6% 10.30%

39.60% Fed Tax Rate 39.6% 610,200.00



0.00% Fed Low Income CG Tax Rate 1,017,000.00



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450,000.00 Fed High Cap Gains Inc Limit 12.30%

3.80% Investment Inc Surtax 3.8% 1.00%

250,000.00 ACA Surtax Cliff 1,000,000.00

12,400.00 Fed Standard Deduction 345,235.00

1,200.00 Fed Additional Deduction 6.00%

3,950.00 Fed Pers Deduction 1.00%

2,500.00 Fed Pers Deduction Div 101,636.00305,050.00 Fed Pers Limit Income 1,016.36

2.00% Fed Pers Limit Rate 7,812.00

1,000.00 Fed Child Tax Credit 2,500.00

110,000.00 Fed Child Tax Income Max 6.00

1,000.00 Fed Child Tax Income Div 106.00

5.00% Fed Child Tax Income Sub 326.00

305,050.00 Fed Sched A Limit Income 84,640.00

3.00% Fed Sched A Limit Rate 317,401.00

80.00% Fed Sched A Limit Rate 25.00%

2.90% SE Medicare Tax Rate 7.00%

92.35% SE Income Limitation Rate 2.50%

0.00 SE Medicare Tax Max1.45% W2 Medicare Tax 1.45%

0.90% Medicare Surtax 0.9%

200,000.00 Medicare Surtax W/H Cliff

12.40% SE FICA Tax 12.4%

14,508.00 SE FICA Tax Max

117,000.00 SE FICA Income Max

400.00 SE Income Minimum

6.20% W2 FICA Tax 6.2%

100.00% Health Insur Premium Rate

3,000.00 Cap Losses Max

10.00% Medical Deductions Threshold

7.50% Senior Medical Ded Threshold

2.00% Misc Deductions Threshold

50.00% Charity Deductions Threshold

82,100.00 AMT Income Exemption

156,500.00 AMT Income Exemption Limit

25.00% AMT Income Exemption Rate

26.00% AMT Low Income Tax Rate

28.00% AMT High Income Tax Rate

182,500.00 AMT High Income Threshold

3,650.00 AMT High Income Deduction

2.50% AMT Medical Deduction Rate

0.00 AMT Additional Income Limit


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heet

nds, etc.).

through R65.




California Income




























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FICA Overpayment










Tax Credits






0.00 AMT Net Income


Legend













CA Tax Rate 6%

CA Income 8%

CA Tax 8%

CA Tax Rate 8%

CA Income 9.3%

CA Tax 9.3%


CA Tax 10.3%

CA Tax Rate 10.3%

CA Income 11.3%

CA Tax 11.3%

CA Tax Rate 11.3%

CA Income 12.3%

CA Tax 12.3%


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CA Tax Rate 12.3%




CA Pers Limit Rate






CA Pers Exemption








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Taxes Due Summary


0.00 Total Fed Tax

0.00 Total CA Tax

0.00 Medicare

0.00 SE Tax

0.00 FICA














0.00 May 0.00 May









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0.00 May 0.00 May0.00 June 0.00 June

0.00 July 0.00 July











0.00 May 0.00 May

0.00 June 0.00 June

0.00 July 0.00 July








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2014 Married Separate Filing Status

Quick Instructions

























0.00 Other Income

0.00


6,200.00



0.00 1/2 SE Tax 0.00





0.00







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0.00 Net Income 0.000.00

0.00

0.00

0.00

0.00

0.00

0.00

0.00







10.00% Fed Tax Rate 10% 7,582.00

9,075.00 Fed Income 15% 75.82

907.50 Fed Tax 15% 2.00%15.00% Fed Tax Rate 15% 17,976.00

36,900.00 Fed Income 25% 283.70

5,081.25 Fed Tax 25% 4.00%

25.00% Fed Tax Rate 25% 28,371.00

74,425.00 Fed Income 28% 699.50

14,462.50 Fed Tax 28% 6.00%

28.00% Fed Tax Rate 28% 39,384.00

113,425.00 Fed Income 33% 1,360.28

25,382.50 Fed Tax 33% 8.00%

33.00% Fed Tax Rate 33% 49,774.00

202,550.00 Fed Income 35% 2,191.48


228,800.00 Fed Income 39.6% 21,207.75

63,981.25 Fed Tax 39.6% 10.30%

39.60% Fed Tax Rate 39.6% 305,100.00






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225,000.00 Fed High Cap Gains Inc Limit 12.30%

3.80% Investment Inc Surtax 3.8% 1.00%

125,000.00 ACA Surtax Cliff 1,000,000.00

6,200.00 Fed Standard Deduction 172,615.00

1,200.00 Fed Additional Deduction 6.00%

3,950.00 Fed Pers Deduction 1.00%

1,250.00 Fed Pers Deduction Div 101,636.00152,525.00 Fed Pers Limit Income 1,016.36

2.00% Fed Pers Limit Rate 3,906.00

1,000.00 Fed Child Tax Credit 1,250.00

55,000.00 Fed Child Tax Income Max 6.00

1,000.00 Fed Child Tax Income Div 106.00

5.00% Fed Child Tax Income Sub 326.00

152,525.00 Fed Sched A Limit Income 42,319.00

3.00% Fed Sched A Limit Rate 158,700.00

80.00% Fed Sched A Limit Rate 25.00%

2.90% SE Medicare Tax Rate 7.00%

92.35% SE Income Limitation Rate 2.50%

0.00 SE Medicare Tax Max1.45% W2 Medicare Tax 1.45%

0.90% Medicare Surtax 0.9%

200,000.00 Medicare Surtax W/H Cliff

12.40% SE FICA Tax 12.4%

14,508.00 SE FICA Tax Max

117,000.00 SE FICA Income Max

400.00 SE Income Minimum

6.20% W2 FICA Tax 6.2%

100.00% Health Insur Premium Rate

1,500.00 Cap Losses Max

10.00% Medical Deductions Threshold

7.50% Senior Medical Ded Threshold

2.00% Misc Deductions Threshold

50.00% Charity Deductions Threshold

41,050.00 AMT Income Exemption

78,250.00 AMT Income Exemption Limit

25.00% AMT Income Exemption Rate

26.00% AMT Low Income Tax Rate

28.00% AMT High Income Tax Rate

91,250.00 AMT High Income Threshold

1,825.00 AMT High Income Deduction

2.50% AMT Medical Deduction Rate

165,000.00 AMT Additional Income Limit


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heet

nds, etc.).

through R65.




California Income




























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FICA Overpayment










Tax Credits






0.00 AMT Net Income


Legend













CA Tax Rate 6%

CA Income 8%

CA Tax 8%

CA Tax Rate 8%

CA Income 9.3%

CA Tax 9.3%


CA Tax 10.3%

CA Tax Rate 10.3%

CA Income 11.3%

CA Tax 11.3%

CA Tax Rate 11.3%

CA Income 12.3%

CA Tax 12.3%


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CA Tax Rate 12.3%




CA Pers Limit Rate






CA Pers Exemption








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Taxes Due Summary


0.00 Total Fed Tax

0.00 Total CA Tax

0.00 Medicare

0.00 SE Tax

0.00 FICA














0.00 May 0.00 May









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0.00 May 0.00 May0.00 June 0.00 June

0.00 July 0.00 July











0.00 May 0.00 May

0.00 June 0.00 June

0.00 July 0.00 July








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2014 Head-of-Household Filing Status

Quick Instructions

























0.00 Other Income

0.00


9,100.00



0.00 1/2 SE Tax 0.00





0.00







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0.00 Net Income 0.000.00

0.00

0.00

0.00

1,000.00

0.00

0.00

0.00







10.00% Fed Tax Rate 10% 15,174.00

12,950.00 Fed Income 15% 151.74


49,400.00 Fed Income 25% 567.30

6,762.50 Fed Tax 25% 4.00%

25.00% Fed Tax Rate 25% 46,346.00

127,550.00 Fed Income 28% 983.06

26,300.00 Fed Tax 28% 6.00%

28.00% Fed Tax Rate 28% 57,359.00

206,600.00 Fed Income 33% 1,643.84

48,434.00 Fed Tax 33% 8.00%

33.00% Fed Tax Rate 33% 67,751.00

405,100.00 Fed Income 35% 2,475.20


432,200.00 Fed Income 39.6% 28,331.90

123,424.00 Fed Tax 39.6% 10.30%

39.60% Fed Tax Rate 39.6% 414,936.00






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28/32


heet

nds, etc.).

through R65.




California Income




























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FICA Overpayment










Tax Credits






0.00 AMT Net Income


Legend













CA Tax Rate 6%

CA Income 8%

CA Tax 8%

CA Tax Rate 8%

CA Income 9.3%

CA Tax 9.3%


CA Tax 10.3%

CA Tax Rate 10.3%

CA Income 11.3%

CA Tax 11.3%

CA Tax Rate 11.3%

CA Income 12.3%

CA Tax 12.3%


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CA Tax Rate 12.3%




CA Pers Limit Rate






CA Pers Exemption








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Taxes Due Summary


0.00 Total Fed Tax

0.00 Total CA Tax

0.00 Medicare

0.00 SE Tax

0.00 FICA














0.00 May 0.00 May









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0.00 May 0.00 May0.00 June 0.00 June

0.00 July 0.00 July











0.00 May 0.00 May

0.00 June 0.00 June

0.00 July 0.00 July







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