Federal Income Tax  
Paying federal income taxes is one of most people’s least favorite annual activities. As a result, many people tend to procrastinate by not planning for their taxes each year and by completing and filing the forms at the last possible minute. This calculator is designed to help you estimate your annual federal income tax liability.
     

What is your tax filing status?

What is your total pre-tax income? Include W-2 income, interest, dividends, rental income, etc.

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Enter the total contributions made to all employer-sponsored plans this year (e.g., 401(k) plans, traditional IRA’s, etc).

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Enter your deduction(s). If you itemize your deductions, enter that total here. Otherwise, enter the appropriate standard deduction. For the 2011 tax year, the standard deductions are as follows: single, $5,800; head of household, $8,500; married filing separately, $5,800; married filing jointly, $11,600.

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Enter the number of dependents/personal exemptions that you will be claiming. Generally, this will be you, your spouse, and your children.

 
   
   
Minnesota Business Center-St. Peter Office
315 South Minnesota Avenue
 • St. Peter, MN • 56082
Phone: 507-934-6050 800-657-0146 • Fax: 507-934-6051
• plan@MNBusinessCenter.net

Warren “Buster” West is licensed in MN, CA, CO, FL, IA, IL, OK, and MN to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), and is securities registered in AZ, CA, CO, CT, FL, HI, ID, IL, MN, SD, TX, VA, WI, and WY and adviser registered in MN and TX.  Casey West is licensed in MN to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), and is securities and adviser registered in MN.  Carolyn Mager is licensed in MN to offer insurance products, and life insurance (including variable life), annuities (including variable annuities), and is securities registered and adviser registered in MN.

This site is not a solicitation of interest in any of these products in any other state.

IMPORTANT CONSUMER INFORMATION: Buster West, Casey West, and Carolyn Mager may only transact business in a particular state after licensure or satisfying qualifications requirements of that state, or only if (s)he is excluded or exempted from the state's registration requirements.  Follow-up, individualized responses to consumers in a particular state by Buster, Casey or Carolyn that involve either the effecting or attempting to effect transactions in securities or the rendering of personalized investment advice for compensation, as the case may be, shall not be made without first complying with the state's requirements, or pursuant to an applicable state exemption or exclusion.  For information concerning the licensure status or disciplinary history of a broker-dealer, investment adviser, BD agent or IA representative or any financial institution (s)he represents, contact your state securities law administrator.

Insurance issued by Principal National Life Insurance Company (except in New York), Principal Life Insurance Company, the companies available through the Preferred Product Network, Inc, and/or other fine carriers.  Securities and advisory products offered through Princor Financial Services Corporation, 800/247-1737, member SIPC.  Principal National, Principal Life, the Preferred Product Network, and Princor® are members of the Principal Financial Group®, Des Moines, IA 50392.  Buster West and Casey West, Principal National and Principal Life Financial Representatives, Princor Registered Representatives, Financial Advisors.  Carolyn Mager, Princor Registered Representative, Financial Advisor.

Principal Life maintains certificates of authority to transact insurance in all 50 states.  Principal Life NAIC identification number is 61271.  Principal National NAIC identification number is 71161.

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