Choose the tax filing status that you plan on filing with for the 2025 tax year. Don't worry—you can always change it later without having to redo your inputs.
This calculator assumes full-year coverage under a single plan. Partial-year coverage or mid-year plan changes may produce inaccurate results.
If checked, the SE Healthcare Deduction cannot be claimed regardless of whether you enrolled in that plan.
Step 2 — Income Inputs
W‑2 Income
Self Employment Income
Investment Income
Other 1099 Income
Step 3 — Deduction Inputs (Above-The-Line)
Deductions
Step 4 — Retirement
Employee contributions across both 401(k)s share a single annual limit ($23,500 for 2025) — amounts entered in W-2 Employee and Solo Employee are combined toward that cap. Employer contributions are calculated independently: the W-2 employer match is entered directly, while the Solo employer maximum is calculated from your net self-employment income. W-2 employer and self-employment business are treated as separate plans for §415 purposes. If they are related entities, consult a tax advisor regarding §415 aggregation rules.
Max: $23,500.00
Max: $70,000.00
Max: $0.00
Max: $23,500.00
Max: $7,000.00
Step 5 — Deduction Inputs (Below-The-Line)
Below-The-Line Deductions
Adjusted Incomes
Summary of Incomes
Adjusted Gross Income (AGI): Your AGI is your total annual income from all sources, less above-the-line deductions. Federal AGI is often equal to your State AGI.
Modified AGI (MAGI): Your MAGI is used to determine eligibility for retirement contributions, healthcare premium subsidies, and other tax adjustments. There are multiple variants of MAGI for different benefits, which add certain income deductions back to your AGI.
Federal Taxable Income: This is the value that your Income Tax is calculated from. It's calculated by taking your AGI and subtracting below-the-line deductions such as the Standard Deduction and the QBI Deduction.
Tax Calculations
W‑2 FICA Taxes
Self Employment Tax (SECA)
Federal Income Tax Bracket Breakdown
State Income Tax Breakdown
Tax Summary
Summary of Taxes
Federal Taxes
State Taxes
Local Taxes
Total
Total Taxes Owed: $0.00
Refunds & Estimated Taxes
Withholdings & Taxes Paid
Refunds / Taxes Due
Required Estimated Tax Payments
Warning: You could be subject to IRS penalties if your total estimated tax payments add up to less than 90% of your total tax liability.
Visualization
Income → Outflows Visualization
Shows inflows (left) and outflows (right): Federal Income Tax, Self‑Employment Tax, W‑2 FICA (employee), IRA Saving, and Take‑home Cash.
Household Information & Demographics
These fields are automatically synced from your inputs on the Filing Status & Income tab. Your household size and location dictate your Federal Poverty Level (FPL) thresholds.
Financial Snapshot
These income figures are synced from your tax calculations. Please input your total qualifying assets, as some benefits enforce strict asset limits.
Note: Total assets typically include cash, investments, and secondary properties, but exclude your primary residence and retirement accounts.
ACA Marketplace Coverage & Premium Tax Credit
Enter the annual totals from the bottom row of your Form 1095-A. This calculator assumes full-year coverage under a single plan. If you had coverage for fewer than 12 months or switched plans mid-year, results may not be accurate.
Total premiums paid to insurer (your out-of-pocket share + APTC)
Second Lowest Cost Silver Plan benchmark premium for your coverage area
Advance Premium Tax Credit already paid on your behalf during the year
PTC Reconciliation Results
Enter your 1095-A totals above to see your PTC reconciliation.
Federal Poverty Level
Enter household size on the Filing Status & Income tab to calculate your FPL percentage.
Medicare
Enter Filer 1 Age on the Filing Status & Income tab to calculate Medicare eligibility.
Medi-Cal (California)
CalFresh (California)
Monthly housing costs are used to calculate the shelter deduction, which can significantly increase your estimated CalFresh benefit. The Standard Utility Allowance may be used for households with heating or cooling expenses.