Best Available 2018 tax estimator
Best Available 2018 tax estimator
I'm trying to work out my budget for 2018 that will likely include some oneoff expenses. I'm in retirement now so I want to figure out how to space out these expenses, likely to be paid for from highly appreciated stock or IRAs so as to not get into higher tax brackets.
So to do this I need a good tax estimator, ideally one that has some knowledge of state (NJ) as well as Federal taxes.
Any recommendations?
So to do this I need a good tax estimator, ideally one that has some knowledge of state (NJ) as well as Federal taxes.
Any recommendations?

 Posts: 152
 Joined: Sun Jan 05, 2014 1:07 pm
Re: Best Available 2018 tax estimator
For Federal taxes, see "2018 Federal Income Tax Planner"Ged wrote: ↑Tue Feb 27, 2018 6:19 pmI'm trying to work out my budget for 2018 that will likely include some oneoff expenses. I'm in retirement now so I want to figure out how to space out these expenses, likely to be paid for from highly appreciated stock or IRAs so as to not get into higher tax brackets.
So to do this I need a good tax estimator, ideally one that has some knowledge of state (NJ) as well as Federal taxes.
Any recommendations?
No idea about NJ tax planner.
Boglesmind

 Posts: 444
 Joined: Tue Oct 19, 2010 7:27 am
Re: Best Available 2018 tax estimator
It's hard to find 2018 inome tax calculators this early, especially ones that include SS income as an option. This is the only one I found https://www.mortgagecalculator.org/calc ... ulator.php
"Not everything you read on the Internet is true", Abraham Lincoln

 Posts: 152
 Joined: Sun Jan 05, 2014 1:07 pm
Re: Best Available 2018 tax estimator
The above spreadsheet apparently handles social security income. See "Excel1040  Income Tax Spreadsheet Instructions for Use", item 8 under Instructionsboglesmind wrote: ↑Tue Feb 27, 2018 6:22 pmFor Federal taxes, see "2018 Federal Income Tax Planner"Ged wrote: ↑Tue Feb 27, 2018 6:19 pmI'm trying to work out my budget for 2018 that will likely include some oneoff expenses. I'm in retirement now so I want to figure out how to space out these expenses, likely to be paid for from highly appreciated stock or IRAs so as to not get into higher tax brackets.
So to do this I need a good tax estimator, ideally one that has some knowledge of state (NJ) as well as Federal taxes.
Any recommendations?
No idea about NJ tax planner.
Boglesmind
8.Enter any Social Security income reported on Form SSA1099 on the tab labeled 'SSA1099'.
Boglesmind
PS: No firsthand experience with reporting SS income using the above spreadsheet
Re: Best Available 2018 tax estimator
The personal finance toolbox spreadsheet fits that description very well.
In other words, it will likely get federal taxes spot on, but may not be exact (i.e., it "has some knowledge") for state taxes.
Re: Best Available 2018 tax estimator
The HR Block tax calculator produces a 2018 result along w/ 2017. (fed only)
Re: Best Available 2018 tax estimator
the excel 1040 spreadsheet above  anyone know if there’s a form or schedule or whatever in there that deals with the 199A pass thru deduction? Can’t seem to find anything.
Of course I can estimate the deduction myself and just reduce my K1 number by 20%. Just wondered if there’s a form or something I’m missing
Of course I can estimate the deduction myself and just reduce my K1 number by 20%. Just wondered if there’s a form or something I’m missing
Re: Best Available 2018 tax estimator
Thanks to all who replied. The above spreadsheet seems to do what I need.FiveK wrote: ↑Tue Feb 27, 2018 10:43 pmThe personal finance toolbox spreadsheet fits that description very well.
In other words, it will likely get federal taxes spot on, but may not be exact (i.e., it "has some knowledge") for state taxes.
Re: Best Available 2018 tax estimator
I need to play with deductible health insurance premiums as an adjustment to my AGI.My husband and I are selfemployed and can deduct all of our health insurance premiums. I'm using the above calculator from the Personal Finance Toolbox.
I know I need to add it as a line item in "Subtractions for AGI." But can anyone explain what Excel formula I'd need to use if I REPLACE the alimony item with "deductible health ins prems." I'm not an Excel expert. Thanks in advance!
I know I need to add it as a line item in "Subtractions for AGI." But can anyone explain what Excel formula I'd need to use if I REPLACE the alimony item with "deductible health ins prems." I'm not an Excel expert. Thanks in advance!
Re: Best Available 2018 tax estimator
Not familiar with deductibility rules for selfemployed health insurance premiums, but if they are a simple subtraction on the way to AGI, just entering the amount on the line that says "alimony" should work. The word "alimony" is irrelevant to the calculations, so you could replace it with "SE health premiums" or "ABC XYZ", etc.tcwrites wrote: ↑Mon Apr 16, 2018 3:56 pmI need to play with deductible health insurance premiums as an adjustment to my AGI.My husband and I are selfemployed and can deduct all of our health insurance premiums. I'm using the above calculator from the Personal Finance Toolbox.
I know I need to add it as a line item in "Subtractions for AGI." But can anyone explain what Excel formula I'd need to use if I REPLACE the alimony item with "deductible health ins prems." I'm not an Excel expert. Thanks in advance!
Re: Best Available 2018 tax estimator
Thanks! They are, indeed, a simple subtraction off of AGI. I will just replace "Alimony" as you suggested.
One other Q on kids on the tax estimator:
 Child Tax Credit/ now Family Tax Credit:I see spots for entering minor children, but I don't see a $1,000 deduction showing up. Am I missing something?
One other Q on kids on the tax estimator:
 Child Tax Credit/ now Family Tax Credit:I see spots for entering minor children, but I don't see a $1,000 deduction showing up. Am I missing something?
Re: Best Available 2018 tax estimator
Assuming you are using a 2018 version (e.g., cell Q1 on the Instructions tab is V11.07), the CTC should be in cells G23 and/or G28. If it's not there, then more information is needed (e.g., what have you entered?).
Re: Best Available 2018 tax estimator
Thanks, yes, I'm on the 2018 form.
CTC in cell G23 is actually "College Tax Credit" of $2,500 for the American Opportunity Tax Credit. I've got that filled in.It's based on cells R56 and 57. It's got to be the AOTC because of the amount.
The Family Tax Credit (formerly Child Tax Credit)...I have filled in 1 dependent in cell G4 for kids under age 17. But I don't see where that info is used. And my understanding is that it should generate a $1,600 credit (1000 of it refundable). But I don't see that credit showing up on the sheet anywhere. ??
Thanks again for helping!
CTC in cell G23 is actually "College Tax Credit" of $2,500 for the American Opportunity Tax Credit. I've got that filled in.It's based on cells R56 and 57. It's got to be the AOTC because of the amount.
The Family Tax Credit (formerly Child Tax Credit)...I have filled in 1 dependent in cell G4 for kids under age 17. But I don't see where that info is used. And my understanding is that it should generate a $1,600 credit (1000 of it refundable). But I don't see that credit showing up on the sheet anywhere. ??
Thanks again for helping!
Re: Best Available 2018 tax estimator
Hmmm...?tcwrites wrote: ↑Mon Apr 16, 2018 7:45 pmCTC in cell G23 is actually "College Tax Credit" of $2,500 for the American Opportunity Tax Credit. I've got that filled in.It's based on cells R56 and 57. It's got to be the AOTC because of the amount.
The Family Tax Credit (formerly Child Tax Credit)...I have filled in 1 dependent in cell G4 for kids under age 17. But I don't see where that info is used. And my understanding is that it should generate a $1,600 credit (1000 of it refundable). But I don't see that credit showing up on the sheet anywhere.
MFJ with one dependent age 12 or under? If so, there should be 2, 1, 1, 1, 1 in cells G2 through G6 respectively. For more dependents or different age, adjust accordingly.
The CTC is the Child Tax Credit, and that is what cells R54R61 calculate. See What is the "more favorable interpretation of the new law"? and a few posts below that for background on cell S61. The AOTC is calculated in the box starting in Y55.
To see what cells are used where, first unprotect the sheet: Review>Unprotect Sheet. There is no password. Click in a cell (e.g., G4). The click Formulas>Trace Dependents. That should show something similar to
and one can follow the arrows to see where the cell is used.
I've used this enough to answer at least some questions about it, and am happy to do so. Deep questions and/or requests for changes may be better posted on the MMM site. Good luck!

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 Location: Arizona USA
Re: Best Available 2018 tax estimator
Thank you boglesmind for recommending the "Mortgage Calculator". That worked out perfect for me.
Last edited by Almost there on Wed Apr 18, 2018 3:50 pm, edited 2 times in total.
Re: Best Available 2018 tax estimator
Note: that one allows $2K/child as a refundable credit. The law allows $1.4K. No idea how well it does everything else, but that was the first thing I tried, so....Almost there wrote: ↑Wed Apr 18, 2018 3:16 pmboglesmind wrote:
Thank you for recommending the "Mortgage Calculator". That worked out perfect for me.
 BuyAndHoldOn
 Posts: 161
 Joined: Mon Mar 30, 2015 6:51 pm
Re: Best Available 2018 tax estimator
For those with simple tax situations, this site is pretty straightforward. You have to do your own accounting for things like the 401k, Health Savings Account, etc. > But that's a simple subtraction from Wages/Other Taxable Income for me.
https://www.olt.com/main/home/taxestimator.asp
https://www.olt.com/main/home/taxestimator.asp
Re: Best Available 2018 tax estimator
Very happy with dinkytown.net estimators as well. Have used them for several years for doing estimated taxes.

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 Location: North County San Diego
Re: Best Available 2018 tax estimator
Do any of these 2018 tax estimators handle the 20% deduction/exclusion for self employment income?
De gustibus non est disputandum
Re: Best Available 2018 tax estimator
IRS estimator is fine. Unfortunately, my wife and I had the same question about state and haven't had much luck. Our state (MD) has an estimator for small business owners, though.Ged wrote: ↑Tue Feb 27, 2018 6:19 pmI'm trying to work out my budget for 2018 that will likely include some oneoff expenses. I'm in retirement now so I want to figure out how to space out these expenses, likely to be paid for from highly appreciated stock or IRAs so as to not get into higher tax brackets.
So to do this I need a good tax estimator, ideally one that has some knowledge of state (NJ) as well as Federal taxes.
Any recommendations?
Re: Best Available 2018 tax estimator
I have not found one yet. I think this I'd because the irs has not yet issued final guidance on exactly where on the form/how this is going to work.cadreamer2015 wrote: ↑Sun May 27, 2018 5:55 amDo any of these 2018 tax estimators handle the 20% deduction/exclusion for self employment income?
Re: Best Available 2018 tax estimator
Glad I found this thread. I just retired and OMG it was hard to find any information on how to actually estimate my taxes. I found all sorts of articles and blogs talking about this and that, and IF you have A and IF you have B, and so one and so forth. But not ONE had info on how to actually do it.
My situation is fairly simple. I have A, B, and C. THE END. I don't have D or E or F. I know EXACTLY how much income I have, and I just wanted to plug those numbers in, or see some formula and do it myself, but no.
I was not interested in discussions about maybe this or maybe that. I mean that would have been OK if they ended with a formula for how to do it, but they pretty much end with a "you'd better do this or there may be PENALTIES. Good luck, we're counting on you."
Then I thought of searching Bogleheads, "Yeah, someone there will know." I was right. Both mortgagecalculator and dinkytown seem to be what I need, in fact they look identical I assume they're from the same source.
Once I found this thread, and used those links, it was simple to calculate my estimated taxes. It doesn't have to be accurate down to the penny, just get me in the ball park.
As and aside, I just get ticked every year on how difficult it is to actually do your taxes.
My situation is fairly simple. I have A, B, and C. THE END. I don't have D or E or F. I know EXACTLY how much income I have, and I just wanted to plug those numbers in, or see some formula and do it myself, but no.
I was not interested in discussions about maybe this or maybe that. I mean that would have been OK if they ended with a formula for how to do it, but they pretty much end with a "you'd better do this or there may be PENALTIES. Good luck, we're counting on you."
Then I thought of searching Bogleheads, "Yeah, someone there will know." I was right. Both mortgagecalculator and dinkytown seem to be what I need, in fact they look identical I assume they're from the same source.
Once I found this thread, and used those links, it was simple to calculate my estimated taxes. It doesn't have to be accurate down to the penny, just get me in the ball park.
As and aside, I just get ticked every year on how difficult it is to actually do your taxes.
Re: Best Available 2018 tax estimator
The Dinkytown calculator is also available here:
https://www.jacksonhewitt.com/taxtools ... alculator/
I notice that if you have SS income, the calculator indicates which federal tax bracket you are in, but it does not indicate your true marginal bracket (taking into consideration the SS tax hump).
vtMaps
https://www.jacksonhewitt.com/taxtools ... alculator/
I notice that if you have SS income, the calculator indicates which federal tax bracket you are in, but it does not indicate your true marginal bracket (taking into consideration the SS tax hump).
vtMaps
The optimist proclaims that we live in the best of all possible worlds; and the pessimist fears this is true. James Branch Cabell
Re: Best Available 2018 tax estimator
QBI Passthrough deduction in the case study spreadsheet mentions the addition of these calculations to that tool (aka the personal finance toolbox spreadsheet) a couple of weeks ago. It also mentions that much remains unclear for certain situations.cadreamer2015 wrote: ↑Sun May 27, 2018 5:55 amDo any of these 2018 tax estimators handle the 20% deduction/exclusion for self employment income?
Re: Best Available 2018 tax estimator
Assuming the Dinkytown calculator is the same as the mortgage calculator which is so easy to use and do whatifs because it's all on a single page, calculating your true marginal bracket w/ SS is pretty easy tho. Just became aware of it this yr and I like it better than the others I've used (Taxcaster/HR Block).vtMaps wrote: ↑Wed Jul 11, 2018 5:26 amThe Dinkytown calculator is also available here:
https://www.jacksonhewitt.com/taxtools ... alculator/
I notice that if you have SS income, the calculator indicates which federal tax bracket you are in, but it does not indicate your true marginal bracket (taking into consideration the SS tax hump).
vtMaps
Re: Best Available 2018 tax estimator
I have my projected 2018 taxes calculated in a spreadsheet and just tested several of the tools mentioned in this thread. The Mortgage Calculator and Dinkytown Calculator are very easy to use and I like these tools.
My return is quite complex and the results of each calculator matched my spreadsheet right to the dollar. That is great to see as it verifies my spreadsheet. However, I then added a large capital gain to test the Alternative Minimum Tax. The two calculators provided the same result but the AMT was off by $100 compared with my spreadsheet. I then tested the tool from TaxAct selecting 2018 and their result matches my spreadsheet exactly.
https://www.taxact.com/tools/taxcalculator
I also tested the online tool from H&R Block. That is also a nice tool but the 2017 and 2018 results were both incorrect for the AMT case.
My return is quite complex and the results of each calculator matched my spreadsheet right to the dollar. That is great to see as it verifies my spreadsheet. However, I then added a large capital gain to test the Alternative Minimum Tax. The two calculators provided the same result but the AMT was off by $100 compared with my spreadsheet. I then tested the tool from TaxAct selecting 2018 and their result matches my spreadsheet exactly.
https://www.taxact.com/tools/taxcalculator
I also tested the online tool from H&R Block. That is also a nice tool but the 2017 and 2018 results were both incorrect for the AMT case.
Electron
Re: Best Available 2018 tax estimator
so the score is now 2 to 2 (or perhaps 1 to 2 if mortgage/dinkytown are the same creation). To settle the tie,Electron wrote: ↑Sun Jul 22, 2018 1:15 pmI have my projected 2018 taxes calculated in a spreadsheet and just tested several of the tools mentioned in this thread. The Mortgage Calculator and Dinkytown Calculator are very easy to use and I like these tools.
My return is quite complex and the results of each calculator matched my spreadsheet right to the dollar. That is great to see as it verifies my spreadsheet. However, I then added a large capital gain to test the Alternative Minimum Tax. The two calculators provided the same result but the AMT was off by $100 compared with my spreadsheet. I then tested the tool from TaxAct selecting 2018 and their result matches my spreadsheet exactly.
https://www.taxact.com/tools/taxcalculator
I also tested the online tool from H&R Block. That is also a nice tool but the 2017 and 2018 results were both incorrect for the AMT case.
perhaps you could confer w/ the creator of the problem calculator and figure out who went wrong how.
I am told that it isn't trivial to determine how to do that so pls post contact details if you find out how.