Traditional cuts your tax bill today; Roth grows tax-free. If you expect a higher tax bracket in retirement, lean Roth. If lower, lean traditional. Many people benefit from both.

How are capital gains taxed?

Long-term gains (held >1 year) are taxed at 0%, 15%, or 20% federally based on income. Short-term gains are taxed as ordinary income — usually higher.

Is this calculator free to use?

Yes — every CalculatingWealth calculator is free, runs entirely in your browser, and never requires a signup.

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Tax Calculator

Estimate federal income tax based on filing status and income.

Calculator

Gross annual income

Filing status

Additional deductions

Estimated federal tax

$8,341.00

Taxable income: $60,400.00
Effective tax rate: 11.12%
After-tax income: $66,659.00

Uses 2024 federal brackets. Excludes state, FICA, credits.

What's next?

Refine your numbers, compare options, or explore the next step in your plan.

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AI financial insights

Personalized, plain-English guidance generated from your numbers.

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Your planning path

A guided sequence so each tool builds on the last.

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Educational resources

Helpful financial resources

Tools that may support the planning behind your tax calculator — picked for context, not promotion.

Tax Preparation SoftwarePartnerGuided tax filing for common return types.Useful during tax season for organised, step-by-step filing.
Personal Finance LibraryCurated long-form reading on saving, investing, and planning.Strengthens fundamentals if you prefer to learn before choosing a tool.

Some resources are partner links that may support the platform at no extra cost to you. All recommendations are educational in nature. Learn how we choose them.

Track this over time

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See how different terms, rates, or contributions change the outcome — side by side.

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How it works

The tax calculator uses a standard formula refined for clarity and precision. Results update live as you change any input — try different scenarios to see how sensitive the answer is to each assumption.

Tips for accurate results

Use realistic, current values — don't round aggressively for inputs that matter.
Compare a few scenarios to see how sensitive the result is to your assumptions.
Save your results so you can track changes over time as your situation evolves.