Free Tax Usa 2015 Calculator
'/%3E%3Ccircle cx='48' cy='39' r='19' fill='%23f2c9a5'/%3E%3Cpath d='M27 35c3-16 39-17 42 2-8-8-27-9-42-2z' fill='%23374151'/%3E%3Cpath d='M21 86c5-24 49-28 56 0z' fill='%232563eb'/%3E%3Ccircle cx='41' cy='41' r='2' fill='%23111827'/%3E%3Ccircle cx='55' cy='41' r='2' fill='%23111827'/%3E%3Cpath d='M42 52c4 3 9 3 13 0' stroke='%2392400e' stroke-width='3' fill='none' stroke-linecap='round'/%3E%3C/svg%3E)
Reviewed by Calculator Editorial Team
Use this free online calculator to estimate your 2015 US federal taxes. The calculator provides an estimate based on standard tax formulas and brackets for 2015. For exact tax calculations, consult a tax professional or use official IRS forms.
How to Use This Calculator
To use the 2015 US tax calculator:
- Enter your total taxable income in the "Taxable Income" field.
- Select your filing status (Single, Married Filing Jointly, etc.).
- Click "Calculate" to see your estimated federal tax liability.
- Review the breakdown of your tax calculation.
- Compare your estimate with the IRS tax tables for accuracy.
This calculator provides an estimate only. Actual tax liability may vary based on your specific situation and deductions. Always consult a tax professional for exact calculations.
Tax Formulas Explained
The 2015 US federal tax calculation follows these basic steps:
- Calculate taxable income: Adjusted gross income minus deductions and exemptions.
- Apply tax brackets: Taxable income is multiplied by the applicable tax rate.
- Add credits: Subtract any applicable tax credits from the tax owed.
The exact calculation varies based on your filing status and income level.
Standard Deduction
The standard deduction for 2015 was:
| Filing Status | Standard Deduction |
|---|---|
| Single | $6,300 |
| Married Filing Jointly | $12,600 |
| Married Filing Separately | $6,300 |
| Head of Household | $9,300 |
You can choose to take the standard deduction instead of itemizing deductions.
2015 Tax Brackets
The 2015 federal income tax brackets were:
| Tax Rate | Single | Married Filing Jointly | Married Filing Separately | Head of Household |
|---|---|---|---|---|
| 10% | $0 - $9,075 | $0 - $18,150 | $0 - $9,075 | $0 - $13,150 |
| 15% | $9,076 - $36,900 | $18,151 - $73,800 | $9,076 - $36,900 | $13,151 - $50,500 |
| 25% | $36,901 - $89,350 | $73,801 - $148,850 | $36,901 - $89,350 | $50,501 - $131,150 |
| 28% | $89,351 - $186,350 | $148,851 - $226,850 | $89,351 - $186,350 | $131,151 - $210,800 |
| 33% | $186,351 - $405,100 | $226,851 - $405,100 | $186,351 - $405,100 | $210,801 - $405,100 |
| 35% | $405,101 - $406,750 | $405,101 - $457,600 | $405,101 - $406,750 | $405,101 - $432,850 |
| 39.6% | $406,751+ | $457,601+ | $406,751+ | $432,851+ |
These brackets apply to taxable income after deductions and exemptions.
Common Deductions
Common deductions that could reduce your taxable income include:
- Standard deduction (as shown above)
- Itemized deductions (mortgage interest, state/local taxes, medical expenses)
- Retirement contributions (IRA, 401k)
- Student loan interest
- Charitable donations
Itemizing deductions may be beneficial if your total deductions exceed the standard deduction.
Frequently Asked Questions
Is this calculator accurate for my exact tax situation?
This calculator provides an estimate based on standard tax formulas. For exact calculations, use official IRS forms or consult a tax professional, as your specific deductions and credits may affect your actual tax liability.
Do I need to pay estimated taxes in 2015?
If you expect to owe $1,000 or more in federal taxes for 2015 and will not have enough withholding, you may need to pay estimated taxes. The IRS has specific rules for estimated tax payments.
What if I have capital gains in 2015?
Capital gains are taxed at different rates than ordinary income. This calculator does not account for capital gains. For accurate capital gains tax calculation, use IRS Form 8949.
Can I use this calculator for state taxes?
This calculator only provides federal tax estimates. State tax rules vary significantly. For state tax estimates, use a state-specific tax calculator or consult your state's tax agency.