Instrument № 1

The tax estimator.

A bracket-by-bracket federal picture in thirty seconds — configured by our tax desk, brackets, deductions and all.

30seconds to an answer
Instrument № 1 · Tax estimator

See your tax picture before we ever meet.

An indicative federal estimate from your income and filing status. Your accountant configures every bracket and deduction — so should the real numbers change, so does this page.

Annual income $120,000
Filing status
Additional deductions
Gross income$120,000
Standard deductionSINGLE($15,000)
Taxable income$105,000
Tax at 10%$0–11,925$1,193
Tax at 12%$11,925–48,475$4,386
Tax at 22%$48,475–103,350$12,073
Tax at 24%$103,350–197,300$396
Estimated tax$18,047
Effective 15.0%Marginal 24%After tax $101,953

Illustrative estimate for planning conversation only — not tax advice.

Worked example

You don't pay the top rate on all of it.

Watch a $120,000 taxable income move through the brackets slice by slice — then see what an entity election does to the same business.

$0Taxable income $120,000
Slice taxed at 10%$1,193
Slice taxed at 12%$4,386
Slice taxed at 22%$12,073
Slice taxed at 24%$3,996
Total — not 24% of everything$21,647
18.0%Effective rate

The S-corp election at $140k

Net profit140,000.00
Route A — Schedule C, SE tax(19,800.00)
Route B — reasonable salary70,000.00
Route B — payroll taxes(10,700.00)
Route B — admin & filings(3,600.00)
Gross saving9,100.00
Net annual saving$5,500.00
Read the full working
Notes to this worksheet

How the worksheet computes.

Note.01

Brackets are marginal

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Each slice of income pays its own rate — the waterfall above shows exactly which slice pays what.

Note.02

Deductions come first

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Standard or itemized is modelled before a single bracket applies; the worksheet uses the standard amounts by default.

Note.03

Safe harbor is the calm path

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Pay in 100% of last year's tax — 110% at higher incomes — and underpayment penalties stay at zero, whatever this year does.

Want the estimate made real?

Bring these numbers to a thirty-minute call and leave with a plan — elections, estimates and all.

Balanced books, kept here

Accounting & fractional CFO for owner-led businesses.

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+1 (415) 555-0132
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