Category: Tax Rates and Calculator | Blog

rt_taxratesThe IRS updates tax rates on an annual basis. In order to calculate your tax refund or liability estimate, you’ll need to be aware. Our team does the research so that you don’t need to. We’ll even provide you with prior year tax rates in order to file your late tax returns.

Questions about tax rates? Let us help! Leave a comment on our blog and we’ll respond to you ASAP!

Archive for the ‘Tax Rates and Calculator | Blog’ Category

How to Use the 2016 Tax Calculator and Refund Cycle Chart

Posted by Michelle O'Brien on January 3, 2017
Last modified: January 3, 2017

Did you know that about 40% of New Year resolutions are money-related?

Whether it’s spending less, saving more, or just getting financially organized overall, it’s important to most of us. As we already know, taxes have a lot to do with our money goals. We’re either itching to get a hold of our tax refund or dreading paying our tax due.

Whatever the case may be for you, we’re going to help you tax charge of your financial resolutions for 2017. With the RapidTax 2016 Tax Calculator, you’ll be able to see the big picture before even looking at a confusing IRS form.

How can the tax calculator 2016 help me?

Our user-friendly calculator tool will assist you with all of the following:

  • Calculating your 2016 tax refund.
  • Figuring out your 2016 tax balance due.
  • Seeing how your filing status, income, exemptions, expenses, and qualifying deductions and credits affect your tax situation.

Our tool allows you to take many aspects of your specific circumstances into account before filing your return. You can enter all donations, retirement income, investments, etc…for the year to see your refund increase or decrease. Then we’ll provide you with a detailed summary so that you understand our calculations.

How to access the 2016 tax calculator

It’s almost too easy to navigate our calculator. You have access to different tabs. Within each tab, you’ll enter your tax information to the best of your knowledge. Remember, you can use estimated amounts if you haven’t received certain income statements yet.

Need to find out your prior year refund or tax due amounts? We have calculators for 2014, 2015, and 2016 too!

2017 Refund Cycle Chart

The refund schedule is something that the IRS has discontinued due to accuracy issues. However, the cycle tends to be generally similar each year. It’s important to realize that these dates are not guaranteed to be accurate. They are ESTIMATES based on past tax seasons. This year does come with a few exceptions that should be taken into consideration**.
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2015 Tax Calculator

Posted by Michelle O'Brien on January 5, 2016
Last modified: October 6, 2016

Step into 2016 knowing what to expect.

Many of us go into the new year with high expectations for ourselves; some realistic and others… not so much. Why not get a head start on a resolution that will actually stick this year? Tax season 2016 officially kicks off on January 19th. This means that the IRS won’t begin e-filing until that date. In the meantime, you can see how much of a refund you should expect this year using our free 2015 tax calculator.

How do I use it?

You can access our 2015 tax calculator here. Once you’re there, just begin answering the questions based on your tax situation. At the very least, some pieces of information that you should know are:

  • your filing status
  • your annual income
  • your deductions (if you plan to itemize)
  • if you will be claimed as a dependent on someone else’s tax return for the year
  • if you are claiming any dependents on your tax return for the year

As you enter your information, you’ll be able to immediately see the adjustment made on the refund wheel to the right side of your screen. (more…)

California Income Tax Rates

Posted by Michelle O'Brien on March 19, 2015
Last modified: October 6, 2016

California residents pay the highest income tax rates in the country…

California is a paradise to its 38 million residents. Wines in Napa, celebs in L.A., Disneyland in Anaheim, the zoo in San Diego, well, there’s a lot to see and do.

However, living in the golden state comes with a hefty price tag. California levies the highest tax rates in the country. If you’re a new CA resident, you’re bound to notice it most when you file your state return.

Just how pricey is it?

Here are the 2014 California income tax rates for single filers:

California 2014 Tax Rates.jpg

If you’re Married Filing Jointly or Head of Household, just double the income brackets listed above. (more…)

The 2014 Tax Tables

Posted by Michelle O'Brien on February 24, 2015
Last modified: October 6, 2016

Find your 2014 Tax Rate with the 2014 Tax Tables!

Have you filed your 2014 Tax Return yet?

If you’ve already filed, congratulations! If not, you may be wondering what the 2014 tax rates are.

Here at RapidTax, we’ve designed  the 2014 tax tables just for you. In fact, you can save these tax tables to your computer and refer back to the tax rates as needed.

Keep in mind that these tax tables are based on your filing status and total income earned throughout the year. You’ll need to know each in order to find your 2014 tax rate.

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Estimate Your 2013 Taxes With a 2013 Tax Calculator

Posted by Michelle O'Brien on January 19, 2015
Last modified: October 6, 2016

Use a 2013 Tax Calculator To Estimate your 2013 Taxes

Do you still need to file your 2013 tax return? If so, you may be curious to know how much your 2013 tax refund or tax due total will be.

Luckily, you can use a  tax calculator 2013 to view your tax situation before filing your late 2013 tax return.

Free Tax Calculator 2013

In order for a tax calculator to estimate your 2013 taxes, you’ll need to enter at the very least your filing status, income, taxes withheld, and any possible deductions.

Rather than wasting time re-entering the same information later on when preparing your tax return, you can do it all at once. Here’s how;

  1. Create a RapidTax Account: When creating an account, be sure to select the 2013 Tax Year (don’t worry, it doesn’t cost anything to create an account)
  2. Enter your tax information: Enter your basic information, income, and deductions or credits your claiming,
  3. View your Tax Refund or Tax Due: Once your tax information is entered, the RapidTax application will instantly calculate your 2013 taxes. In the upper right hand corner, you’ll see your refund or tax due total appear.
  4. File Your 2013 Return or Log Out: If you’re not ready to file your 2013 taxes or just wanted to calculate your taxes, log out of your account. If instead, you want to continue on and file your 2013 tax return, you can continue on with the RapidTax application and submit (and pay) for your tax return. (more…)

What’s My Filing Status and Tax Rates For 2014 Tax Season?

Posted by Emma Lawrence on December 11, 2013
Last modified: October 6, 2016

Your 2013 Tax Rates are dependent on your Filing Status.

The IRS announced that the 2014 tax season (the season you file your 2013 taxes in) will begin on January 31, 2014. That means there’s a small delay to the opening of the 2014 tax season.

Before filing your taxes in 2014, you should refresh your memory on the 2013 tax rates. Your tax rate will be dependent on what filing status category you fall into and help you get an idea of what your tax refund or tax liability will look like when filing your taxes.

Do You Know Your Tax Rates?

The two tables below will help you see the IRS tax rates for 2013 (the taxes you’ll be filing in 2014). Click on the tax tables to see a larger view (you can even right click and save them to refer back to). (more…)

Does California Really Have the Highest State Tax Rates?

Posted by Emma Lawrence on November 25, 2013
Last modified: October 6, 2016

California state tax rates stand as one of the highest tax rates in the US.

California is the state that has always ended up on movie screens. The Golden State offers just about everything; beaches, mountains and great weather. Who wouldn’t want to live there? The answer is not rhetorical. Anyone who hates paying high taxes wouldn’t want to live in California. California is in fact known as the third worst state for taxes.

In all of the United States, the west coast state of CA has the highest state sales tax and some of the highest income tax rates. If you live in California, before filing your taxes, it would be helpful to learn about the California tax rates.

California Income Tax Rates

California’s personal income tax system is composed of  ten brackets. The state actually ranks as the highest income tax rate among states who levy an individual income tax and seventh highest income taxes among all US states. (more…)

What is the Tax Rate for Short Term Capital Gains?

Posted by Emma Lawrence on November 21, 2013
Last modified: October 6, 2016

2014 Short Term Capital Gains are taxed as “ordinary” income

As of 2013, individuals earning an income of $450,0001 and over saw an increase in the capital gains tax rate. For this group, long term capital gains tax rate jumped from 15% to 20% while the short term 2013 capital gains tax rates increased by 4.6%.

Check out part one of this article, to learn about long term capital gains. Keep reading for more on short term capital gains and how they relate to filing your taxes. 

2014 Tax Return Coupon

What are short term capital gains?

A Capital gain is a profit made from selling any asset when the sale price exceeds the purchase price.

The capital gains clock begins the day after you acquire the asset until the day you sell it (this includes day you sell it). Depending on how long the capital gain is held for will determine if it falls into the short-term category or long-term.

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What is Tax Rate for Long Term Capital Gains?

Posted by Emma Lawrence on November 19, 2013
Last modified: October 6, 2016

Long Term Capital Gains are Taxed at a Different Rate Than Short Term Capital Gains

If you earned a profit in 2014 from selling an asset such as stock shares or a house, you’ll need to report it as a long term capital gain on your 2014 tax return.

Long term capital gains are taxed differently than short term gains and other income. In fact, long term capital gains are taxed at a lower rate.

Whether you’re reporting long term or short term capital gains on your 2014 taxes, you’ll be able to e-file with RapidTax when the 2015 tax season begins!

2014 Tax Return Coupon

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What Are the Marginal Tax Rates for California in 2013?

Posted by Michelle O'Brien on September 3, 2013
Last modified: October 6, 2016

Find out how much money you will owe California when you file state taxes

California is one of the highest taxing states in the country. So it makes sense for Californians to plan ahead and see how much money the state is going to take instead of getting surprised by a big bill next winter.

California’s marginal tax rates for 2013 are as follows. Note that different rates apply to those filing as single and to married couples filing a joint return.

Single Tax Rates

Income Bracket

Tax Rate

$0 – $7,123 1%
$7,124 – $16,889 2%
$16,890 – $26,656 4%
$26,657 – $37,004 6%
$37,005 – $46,765 8%
$46,766 – $999,999 9.3%
$1,000,000+ 10.3%

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