Financial Tax Simulator

Input Section (Editable)

Income Sources

W-2 Income ($)

Schedule C/Self-Employment Income ($)

Social Security Income (Total Benefits $)

IRA Withdrawals ($)

Roth Conversion Amount ($)

Interest Income ($)

Long-term Capital Gains ($)

Qualified Dividends ($)

Deductible Expenses

Property Tax ($)

Mortgage Interest ($)

Charitable Donations ($)

Taxable Social Security Income

Adjusted Gross Income (AGI)

Federal Deduction Analysis

SALT Deduction (Property Tax + Calc CA Tax, Capped at $40,000)

Total Potential Itemized Deductions

Federal Deduction Taken

Federal Tax Calculation

Federal Taxable Income

Ordinary Income Tax (10% - 37% brackets)

LTCG & Qualified Div. Tax (0%, 15%, 20%)

Net Investment Income Tax (NIIT 3.8%)

NIIT is calculated on the lesser of Net Investment Income (e.g., LTCG, Dividends) or AGI over $200,000 (Single Filer threshold).

TOTAL FEDERAL TAX DUE

California State Tax Calculation

CA Taxable Income (AGI - CA Std. Ded.)

TOTAL CA STATE TAX DUE

IRMAA Analysis (Medicare Surcharge)

Part B IRMAA Monthly Surcharge

Part D IRMAA Monthly Surcharge

TOTAL COMBINED TAX DUE (Fed + CA)