Best online tax calculator. Estimate your 2020 taxes. Fill in the step-by-step questions and your tax return is calculated. How to Calculate Your 2020 RefundYou can estimate which bracket you would fall into by using our tax bracket calculator. While rates are bracketed the increase only applies to dollars earned within that particular tax bracket. So for a practical example let's see what this means for Joe Schmoe individual filer making $37,950 annually:
If you make $55,000 a year living in the region of California, USA, you will be taxed $11,394.That means that your net pay will be $43,606 per year, or $3,634 per month. Your average tax rate is 20.72% and your marginal tax rate is 37.65%.