2013 Tax estimator

[BLADEMDA]

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For those who want a quick estimate of their taxes in 2013 vs 2012 I found a great online calculator:

http://interactive.taxfoundation.org/taxcalc/#calculator

You are welcome.

 

[countingdays]

Here's a tax proposal/estimator.
(Net income-50,000) x 0.25 = taxes due.
Wow.

 

[Morzh]

At the risk of infuriating you all and alienating the posters around this place that I admire so much (I've been lurking for over a year now), it looks like I'll have a net -47% income tax and actually "earn" money by filing my return.

I'm an indebted $0.00 earning med student, my wife earned about $12k working part-time while also being a full-time mom (got 1 kid). About $900 have been withheld from my wife's paychecks. That calculator estimates that we'll receive a refund of a little over 5k, which is about what we got last year.

Not sure how I feel about that. Personally we're very grateful, but I'm also bothered because I know they'd be giving me money even if I wasn't on a path to success. Over the course of my career we will pay back many times what we received. Too many people will never pay back anything.

 

[BLADEMDA]

At the risk of infuriating you all and alienating the posters around this place that I admire so much (I've been lurking for over a year now), it looks like I'll have a net -47% income tax and actually "earn" money by filing my return.

I'm an indebted $0.00 earning med student, my wife earned about $12k working part-time while also being a full-time mom (got 1 kid). About $900 have been withheld from my wife's paychecks. That calculator estimates that we'll receive a refund of a little over 5k, which is about what we got last year.

Not sure how I feel about that. Personally we're very grateful, but I'm also bothered because I know they'd be giving me money even if I wasn't on a path to success. Over the course of my career we will pay back many times what we received. Too many people will never pay back anything.

But you understand the problem. Good luck in your career path.

 

[BLADEMDA]

By the way the Tax estimator link shows that even if you earn under $400,000 (Family) your taxes still went up significantly due to the fact that Obama eliminated your personal exemptions along with capping your deductions. Many attendings here earn that amount (or more) and will see significant tax increases in excess of $10,000.