Federal Income Tax  
Paying federal income taxes is one of most people’s least favorite annual activities. As a result, many people tend to procrastinate by not planning for their taxes each year and by completing and filing the forms at the last possible minute. This calculator is designed to help you estimate your annual federal income tax liability.
     

What is your tax filing status?

What is your total pre-tax income? Include W-2 income, interest, dividends, rental income, etc.

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Enter the total contributions made to all employer-sponsored plans this year (e.g., 401(k) plans, traditional IRA’s, etc).

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Enter your deduction(s). If you itemize your deductions, enter that total here. Otherwise, enter the appropriate standard deduction. For the 2009 tax year, the standard deductions are as follows: single, $5,700; head of household, $8,350; married filing separately, $5,700; married filing jointly, $11,400.

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Enter the number of dependents/personal exemptions that you will be claiming. Generally, this will be you, your spouse, and your children.

 
   
   
Sb1 Federal Credit Union
200 North 16th Street, Suite 200 • Philadelphia, PA • 19102-1299
Phone: 888.564.4900
www.sb1fcu.pfyfn.com • James.Tait@sb1fcu.org Louise.Selsky@sb1fcu.org

 

 

 

 

Investment products and advisory services offered through CUSO Financial Services L.P. (CFS), a registered Broker-dealer and SEC Registered Investment Advisor. Investment products are not NCUA/NCUSIF or federally insured, are not obligations of the credit union, are not guaranteed by the credit union or any affiliated entity, and involve investment risk including the possible loss of principal. Investment Representatives are employees of Sb1 Federal Credit Union and registered through CFS (member FINRA/SIPC).