Easy Income Taxes provides an overview of income tax rates for individuals earning $100,000 in dozens of global locations. It covers federal and state income tax rates (for the states), as well as personal income tax rates and social security contributions in close to 100 countries.
TaxAssist+ by The Next Gen Business: Advanced Income Tax and Contribution Calculations for the 2024/25 Tax Year
TaxAssist+ streamlines the complexity of income tax calculations by accurately considering not only your gross income and the nature of your income (e.g., self-employed, traditional employment), but also essential deductions and contributions. This tool is designed to provide a comprehensive assessment of your tax obligations, including income taxes and social security contributions.
Step-by-Step Calculation Process:
- Computing Gross Income and Adjustments: We start by calculating your gross income, taking into account the type of income you earn. This is crucial in determining the subsequent steps and applicable rules in the calculation process.
- Determining Taxable Income: After identifying the gross income, TaxAssist+ calculates your taxable income. This involves adjusting your gross income with allowable deductions, considering factors unique to your income type. This step is pivotal in ensuring an accurate basis for tax calculation.
- Incorporating Income Taxes and Social Security Contributions: Our sophisticated algorithm then calculates your income tax liabilities and social security contributions, if applicable. This integration is a key differentiator, as it provides a more comprehensive overview of your total tax obligations.
TaxAssist+ ensures a thorough and accurate estimated tax calculation, providing you with clear insights into your financial obligations and aiding in effective financial planning.
Update Schedule: TaxAssist+ continuously monitors for amendments to tax rates and regulations, ensuring that our calculators remains current for the current tax year.
Customer Support: For any comments or inquiries, we encourage you to reach out directly to our support team via our contact page.