CALCULATORS TO ESTIMATE YOUR NEW TAX LIABILITY

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For those interested in running a few ‘what-if’ scenarios based on the provisions of the new tax bill following are some calculators available online that attempt to make some projections.

Since taxes are so personal, it’s hard to say specifically. But several websites have published calculators that give us a rough idea of where our taxes will stand now that the new tax bill is law.

Here are some places you can check out what you’re 2018 tax bill, due when you file your not-postcard-sized return in 2019.

Three of the sites provide standard-type calculators where you enter in your expected income, some details about your personal situation and then hit enter to get an idea of your taxes. They are:

Two other tax bill estimators are in graphical form. They are the ones created by the New York Times‘ Upshot column and the Washington Post.

Remember, all these calculators will provide you only a general idea of what your taxes might be in the coming years that H.R. 1 is in effect.

I noticed that none of them had a place for investment earnings, which are and will remain taxed at lower capital gains rates.

And the Post’s graphic forces you to count two children, which probably is why the entry there gave a better result.

Still, it gives us ideas of where we stand. Whether those ideas are positive or negative and will remain that way in April 2019 remains to be seen.