The Salary Calculator

UK Salary Calculator

About The Salary Calculator

The Salary Calculator helps you figure out your salary and net take home pay, but it goes much further. This tool also figures in your federal taxes, state taxes, medicare, social security, and a few other important taxable deductions.

Once you’ve entered your information, hit “calculate” and you will see a breakdown and graph summarizing your salary before and after taxes. The results also show you your monthly, weekly, and daily totals.

The results are based on Income Tax and Social Security information for 2013. More information on tax rates here.

Looking to make more money, or get a new job? Be sure to check out our articles on the getting a new job, making money online, and working from home. We have come to realize most of our visitors that are coming to use the Salary Calculator, are also in the process of finding a new job so we’ve tried to cater to them specifically.

Time To Estimate Your 2019 Taxes

As we reach the end of 2018 and move into 2019, another tax season starts to loom on the horizon.

I’ve just updated the federal tax brackets, state tax brackets, social security, medicare, and standard deductions so the Salary Calculator will be as accurate as possible for estimating your 2019 taxes.

As you probably know, there are many deductions and special programs that each person may qualify for that can’t be factored in using our calculator. Because of that, please take the results you find here as a rough estimate. For a list of the most commonly overlooked tax deductions check out this story from Kiplinger’s.

You may also be subject to local taxes on top of state taxes. Here is a list of local tax rates.

We hope you have a great 2019 and please continue to visit and share the Salary Calculator as we continue to update and make improvements.

2019 Salary Calculator Update

It’s been a while since the last update so we just wanted to let everyone know that we’re still supporting the Salary Calculator and will be updating the tax rates within the calculator soon. The last full update was in 2013 (It’s a ton of work to update every state and local tax rate).

We appreciate all of the people that utilize our site and calculator. Please let us know if there’s any improvements you’d like to see while we get everything fixed up.

We’ve already updated the individual pages with the latest tax brackets and deduction amounts.

If you enjoy using the calculator, we just ask that you share it with friends. The more people that use the calculator, the more features we can add and the sooner we can get new rates uploaded!

Internet Sales Tax Updates

The internet sales tax issue is undoubtedly heating up as numerous States meets a devastating $125 billion 2012 budget deficit. This increases the pressure and anxiety as they find ways to increase their revenue however they can. It has been noted that E-commerce increased by 15 percent to $165 billion in 2010, $ 10 billion tax revenue is on the table. As for the retailers, the online market seems to have the competitive advantage over Main Street retailers, especially when it comes to cost of local jobs.

Colorado, Minnesota, Connecticut, and Missouri have just recently joined California along with other dedicated states in the campaign encouraging online sellers to collect sales taxes. Just last month, it was reported that Texas, not exactly a breeding ground of aggressive taxation, charged a $269 million bill to Amazon for uncollected sales taxes.

The result of this legislative battle is quite vague. This concern is no laughing matter for Amazon. Back in 2008, Amazon filed a suit against New York regarding this same issue. They also warned that Amazon will discontinue ties with associated sellers who are situated in states that would try to collect sales taxes. It was reported that they already closed a distribution center in Texas.

Internet Sales TaxIf this issue never comes to an end, there is no doubt it will reach the Congress any time soon. They have been avoiding this matter for 20 years already. Anti-Republicans would surely be tied between their governors and local retailers, not to mention the e-tailers as well.

Before going any further, there are three matters that are needed to be clarified. First of all, this issue is not about taxing the Internet. Using the internet is tax-free and nobody’s against it at all, though smart phone contact is as highly taxed as anything in the world.

Second, this does not concern raising taxes. In case you believe sales taxes are too high, then go on and press your case or start a petition to lower them. However, it is not to charge tax differently to a tea kettle bought from one store from the tea kettle bought from the other.

Finally, this matter does not concern whether on-line buyers owe any tax for their online shopping, this is already settled… they do. You are required to pay if you live in a state with sales tax. Provided that the seller does not collect sales tax, the buyer owes what is recognized as use tax. You can see this on your income tax form.

Obviously, almost no one cares to pay, this leads to the unjust upper hand of the online community against the local brick-and-mortar retailers. Some local retailers even face higher taxes when they encounter loss of revenues, while online sellers enjoy more customers since they can offer “discounts”, since they don’t collect sales taxes.

“Nexus” is the legal principle used by out-of-state sellers concerning sales tax collection. Let’s say a business is physically located in a particular state, it is mandatory for them to collect sales tax. The states believe that since Amazon have existing warehouses and associated businesses in their authority; it’s a must that they collect sales tax as well.

The Supreme Court almost begged to put this issue to an end back in 1992, knowing the intricacy of these matters as well as the risk that the contradictory regulations of different states may bring to businesses. During those years, when E-commerce was not yet rampant, the mail-order firms debated that they would have a hard time on keeping track of the different sales tax laws throughout the country hence, the birth of a new commission initiated by the Congress.

Since 1992, technology has rapidly changed. Data miners nowadays are more knowledgeable than before. They can keep track of zip codes with a single click which means the applicable tax law in that area can also be identified in the nick of time. But still, the Internet sales tax war continues. This battle has been being fought by a group of two dozen states for a decade already. It’s about time for the Congress to step in.  If you want to calculate how this sales tax could affect you, try the Salary Calculator.

Tricks To Lower Your Federal Income Tax

Do you owe insurmountable amount of tax debt to the IRS? Remember that dealing with the IRS can be a difficult task therefore debt relief programs offered by the professionals can help to tackle you financial problems. Try to reduce the debt that you owe to the IRS through itemizing your tax deductions as well as charitable contributions.

1. Prepare a list of the taxes that you paid which are not included in federal taxes. On Federal Form 1040 you are eligible to deduct state and local income tax as well as occupational taxes or foreign taxes that you are required to pay. You can also include the expected taxes that have been allotted for your state’s revenue department.

2. Make sure that you lower your tax bracket as it will help you lower your federal income tax. You can request your employer to reduce your salary to get into the 15% tax bracket in case you are near the bracket that fluctuates from 15% Federal to the 25% Federal withholding.

3. Try to deduct loses you have made in the stock market. Your tax loses will not help to overcome your financial loses but you can retrieve a fraction of that amount back by lowering your tax debt.

4. You can take any tax credit if you are eligible for it. Buying a house or spending money from your paycheck for work related purpose can help you reduce your tax debt or you can also obtain a return but it will depend on the year.

5. Expenses that are allowed by the IRS should be deducted immediately. The dental and medical expenses can be deducted as it is allowed by the IRS. If you itemize your interest expenses along with the charitable contributions and theft losses then you can again lower your tax debt.

These are the five essential ways to lower your federal tax debt. Once you pay off your taxes then you can regain your financial independence and lead a debt free life.