Tax Projection

[v90enterprises]

Is there a more accurate way of projecting how much taxes one would owe in a year (or estimating proper federal payroll deductions) instead of taking gross annual income, subtracting the standard deduction then computing based on each bracket?

[TeriH]

Planning is the best!

We have several tax calculators on our website for forecasting just that thing.  It also depends on how granular you want to go.  

There are a couple of other options.  If you have TurboTax Desktop, there is a "what-if-worksheet" that easily lets you play that game.  Or you can set up a dummy TurboTax Online account and model.  Since forms aren't final, it's all an estimate.  But, these choices should get you better handle on the tax situation.