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Also, we separately calculate the federal income taxes you will owe in the filing season based on the Trump Tax Plan. Select a state to add state and local taxes. When your employer calculates your take-home pay, it will withhold money for federal income taxes and two federal programs: Social Security and. Free Income Tax Calculator - Estimate Your Taxes - SmartAsset Our income tax calculator calculates your federal, state and local taxes based on several key inputs: your household income, location, filing status and number of personal exemptions.
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