Warning
Product support for ToolBox CS ended on October 31, 2022.
Help & How-To Center content for ToolBox CS may be outdated and is used at your own risk.
Pre-TCJA
This calculator uses the tax rate schedule, as well as the effect of phase-outs, to determine a taxpayer's federal marginal tax rate for a specified tax year.
Note: This calculator does not consider other taxes, such as the effect of alternative minimum tax or capital gains tax.
Example
If your clients have an AGI of $115,000, are married and filing jointly, and have two children, what is their marginal tax rate?
Field | Input |
---|---|
Filing status | Married Filing Joint |
Adjusted gross income | $115,000 |
Exemptions | 4 |
Qualifying dependents for child credit | 2 |
In this example, your clients' marginal tax rate is 30%. This percentage does not match the tax rate schedules of 25% because the child tax credit is being phased out. This makes the effective tax rate higher than the rate shown on the tax rate schedule.
Post-TCJA
This calculator uses the tax rate schedule, as well as the effect of phase-outs, to determine a taxpayer's federal marginal tax rate for a specified tax year.
Note: This calculator does not consider other taxes, such as the effect of alternative minimum tax or capital gains tax.
To compare pre- and post-TCJA tax rates, use this calculator together with the Marginal Tax Rate (pre-TCJA) calculator.
Example
If your clients have an AGI of $115,000, are married and filing jointly, and have two children, what is their marginal tax rate?
Field | Input |
---|---|
Filing status | Married Filing Joint |
Adjusted gross income | $115,000 |
Qualifying dependents for child credit | 2 |
In this example, your clients' marginal tax rate is 22%.
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