Tax Bracket Manager  
  BaseTax Year   Email Support  
  Inflation Rate    
             
  GENERAL     CuriousandCalculated.com              
  Filing Status --> Select from drop down list  
     
      Dependents - 2023  
  Taxpayer Age (end of year)                Age End of Year  
  Spouse Age (end of year)                
  Number age 65 and over     0            
      0   0          
  INCOME - Form 1040 Page 1   0   0     Adjusted Facts        
  1 - Wages, salaries, tips, etc. (Taxpayer)
Enter Medicare Wages, if subject to Medicare Surcharge
   
Enter Medicare Wages, if subject to Medicare Surcharge
       
  2a - Tax-exempt interest                
  2b - Taxable interest                
  3a - Qualified Dividends                
  3b - Ordinary Dividends               Dependents - 2024  
  4b - IRA Distributions                  Age End of Year Dependent Care  
  ROTH CONVERSION ----------------------->  
After input check the Roth Conversion Analyzer (RCA) tab up to 3 times. The RCA runs a 2nd scenario to calculate the implied Roth Conversion. When there are income or expense items that move based on AGI then the RCA will recalculate to account for that.

Examples include: Medical expenses, charitable donations subject to AGI limits, Social Security income, etc.
           
  5b - Pensions and annuities                
  6a - Social Security Benefits            
      0    CuriousandCalculated.com               
  7 - Capital gain or (loss)                
  Go To SCHEDULE D - CAPITAL GAINS/LOSSES   0                
  Part 1, Line 7 - Net short-term capital gain 0             DCFSA 
Enter contributions to Dependent Care FSA already deducted from wages entered above.
 
  Part 2, Line 15 - Net long-term capital gain 0            
      0               Schedule SE Calc - $168,600 Wage Base
  8 - Form 1040 (GO TO SCHEDULE 1)    0             FICA Wages (TP)
       1 - Taxable refunds, credits, or offsets to SALT             SE Earnings (TP)
       2a - Alimony received                  
       3 - Business income (or loss)                    
       4 - Other gains or (losses)               FICA Wages (S)
       5 - Rental real estate, royalties, partnerships             SE Earnings (S)
       6 - Farm income or (loss)                  
       7 - Unemployment Compensation              
       8 - Other income               BRACKET BREAKDOWN
      0                 Adjusted Gross Income
  9 - Total Income                 Modified AGI  
  10 - Form 1040 (GO TO SCHEDULE 1)                          
       11 - Educator Expenses               Taxable Income
       13 - Health Savings Account Deduction                  Total Income Tax
       15 - Deductible part of self-employment tax  
Optional. Consider completing calculation using the "Schedule SE Calculator" on the right side of the screen.
   
Complete Calculation using the "Schedule SE Calculator" on the right side of the screen.
           
       16 - Self employed SEP, SIMPLE, and qualified plans             Net Ordinary Income
       17 - Self-employed health insurance deduction                  
       19a - Alimony paid               OI per Tax Bracket
Distance to the top of current bracket. $- means the bracket is filled.
 Distance
       20 - IRA deduction               10% Bracket
       21 - Student loan interest deduction               12% Bracket
       24 - Other Adjustments               22% Bracket
                        24% Bracket
      0    CuriousandCalculated.com              32% Bracket
  10 - Adjustments to Income               35% Bracket
                      37% Bracket
  Adjusted Gross Income (AGI)                  OI Income Tax
  Modified Adjusted Gross Income 0                  
  ITEMIZED DEDUCTIONS   0               Cap Gain Inc per Bracket
Distance to the top of current bracket. $- means the bracket is filled.
 Distance
  Medical Expenses (7.5% AGI)           0% Bracket
      0                 15% Bracket
  State and Local Taxes (ALL)               20% Bracket  
  Real Estate & Personal Property Taxes                  Capital Gains Tax
  Total Taxes Paid            
  Mortgage and Investment Interest           BRACKET BREAKDOWN
                        Adjusted Gross Income
  Charitable Contributions (50% Limit Org)
Elect to treat Cash Donations as 100% AGI

NOTE - the software defaults that all cash donations will receive this treatment. In reality, you can choose to treat only a portion subject the 100% election.
            Modified AGI  
      Cash donations
Generally, these are cash donations to 501(c)3 organizations

See IRS Pub 526 for details: https://www.irs.gov/pub/irs-pdf/p526.pdf
         
This is the deductible portion of the total cash donation.
       
      Capital Gain Property
Generally, these are donations of capital gain property

See IRS Pub 526 for details: https://www.irs.gov/pub/irs-pdf/p526.pdf
         
This is the deductible portion of capital gain property.
  Taxable Income
      Non-cash donations (e.g. Goodwill)                  Total Income Tax
                             
  Other Itemized Deduction (ALL)           Net Ordinary Income
  Total Itemized Deductions      CuriousandCalculated.com                 
      0               OI per Tax Bracket Distance
  STANDARD DEDUCTION                10% Bracket
      0               12% Bracket
  Taxable Income (Before QBI)               22% Bracket
  Qualified Business Income                 24% Bracket
                        32% Bracket
  Taxable Income      CuriousandCalculated.com            35% Bracket
      0           37% Bracket
  Regular Income Tax                  OI Income Tax
  Alternative Minimum Tax (AMT)                    
  Self-Employment Tax                    
  Medicare Tax
3.8% NIIT - Default is to include only lines 2, 3, and 7.

0.9% Income - Default is to include line 1 and 3.

Enter adjustment to default here.
   
3.8% NIIT - Default is to include only lines 2, 3, and 7.

0.9% Income - Default is to include line 1 and 3.

Enter adjustment to default here.
      Cap Gain Inc per Bracket Distance
  TOTAL INCOME TAX
Effective tax rate based on Modified Gross Income
Due to rounding expect a +/-$10 difference
   
Effective tax rate based on Modified Gross Income
      0% Bracket
       Child Tax Credit (Dep Care Credit NOT included)             15% Bracket
       Tax Withholding/Estimated Payments/Other Credits               20% Bracket  
       Net tax due (refund) before credits/other taxes                    Capital Gains Tax
  Tax Bracket Manager Comparison 2017 Tax Law
  Projected RMD Tax Brackets under 2017 Tax Rates (BETA)
  Want a different start year? Enter +/- number of years here:   Note - CPI increases starts in 2018. Standard deduction and Exemptions are also increased.
  Want to increase tax brackets by a CPI rate? Enter CPI here:  
  GENERAL  
Earliest year is 2021
       
  Filing Status          
  Taxpayer Age          
  Spouse Age          
  Number of Personal/Dependency Exemptions
Enter dependency exemptions

(i.e. not including taxpayer(s))
     
Enter dependency exemptions

(i.e. not including taxpayer(s))
  Number age 65 and over          
           
  INCOME - Form 1040 Page 1   Prior Year         Current Year
  7 - Wages, salaries, tips, etc.        
  8a - Taxable interest        
  8b - Tax-exempt interest        
  9a - Ordinary Dividends        
  9b - Qualified Dividends        
  10 - Taxable refunds, credits, or SALT        
  11 - Alimony received        
  12 - Business income (or loss)        
  13 - Capital gain or (loss)        
  Go To SCHEDULE D - CAPITAL GAINS/LOSSES          
  Part 1, Line 7 - Net short-term capital gain    
  Part 2, Line 15 - Net long-term capital gain    
  14 - Other gains or (losses)        
15b - IRA Distributions
  IRA distributions NOT included above      
  16b - Pensions and annuities        
  17 - Rental real estate, royalties, partnerships        
  18 - Farm income or (loss)        
  19 - Unemployment Compensation        
  20a - Social Security Benefits        
  21 - Other income        
   Total Income           
  23 - Educator expenses        
  25 - Health Savings Account Deduction        
  27 - Deductible part of self-employment tax        
  28 - Self employed SEP, SIMPLE, and qualified plans        
  29 - Self-employed health insurance deduction        
  31 - Alimony Paid        
  32 - IRA deduction        
  33 - Student loan interest deduction        
  34 - Tuition and fees        
  Chartiable contributions (non-itemizers)        
  Total Adjustments          
  Adjusted Gross Income (AGI)        
    CuriousandCalculated.com      
  ITEMIZED DEDUCTIONS        
  Medical Expenses (7.5% AGI)    
  Real Estate Taxes        
  State and local taxes (ALL)        
                 
  Mortgage Interest        
                 
  Charitable Contributions          
      Cash donations    
      Capital Gain Property    
      Non-cash donations (e.g. Goodwill)    
               
  Other Itemized Deductions (ALL)        
  Total Itemized Deductions          
    CuriousandCalculated.com      
  Itemized Deductions Phase-Out        
  Adjusted Gross Income (AGI)      
  Less: AGI Threshold      
  Excess      
  Phase-Out % 3.00%     3.00%  
  Phase-Out #1      
             
  80% Limitation      
             
  Itemized Deductions Phase-Out      
                 
  STANDARD DEDUCTION           
  ADDITIONAL STANDARD DEDUCTION IF 65/BLIND          
                 
  Personal Exemption      
  Exemption Phase-Out          
  Adjusted Gross Income (AGI)      
  Less: AGI Threshold      
  Excess      
  Phase-Out Factor 2,500     2,500  
  Phase-Out Percentage      
             
  Total Phase-Out      
  Phase-Out Realization % 100.00%     100.00%  
  Total Phase-Out      
           
  Net Personal Exemption      
           
                 
  Taxable Income          
                 
    CuriousandCalculated.com      
  Regular Income Tax          
  Alternative Minimum Tax (AMT)        
  Medicare Tax          
  TOTAL INCOME TAX          
                 
             
  How Much Should I Convert? (BETA)
  CuriousandCalculated.com
    Tax Bracket Target  
   
       
  Implied  Roth Conversion      
  Paying Medicare Premiums? Maybe one of these should be your target?
  Medicare Part B Monthly Premium per individual    Medicare Part B Bracket (MAGI)     Implied Roth Conversion to Top 
  Tier 1    
  Tier 2    
  Tier 3    
  Tier 4    
  Tier 5    
  Tier 6    
             
   2023 Est. Premium BEFORE Conversion     
Curious and Calculated:
Modified Adjusted Gross Income:
- BEFORE Roth Converion
- AFTER 2022 Adjustments
   2023 Est. Premium AFTER Conversion     
Curious and Calculated:
Modified Adjusted Gross Income:
- AFTER 2023 Adjustments
- AFTER 2023 Roth Conversion
    Taxpayers age 65 or older in 2 years*      
  How much did my Roth Conversion cost? (BETA)
  CuriousandCalculated.com
  Federal Income Tax      
    Effective Federal Tax Rate  
       
  Increased Medicare Part B Premiums      
    Combined Effective Federal Tax Rate  
  *NOTE - IRMAA Premiums are based on the taxpayer being age 65 or older in 2 years (ex: current year 2022, then 2024 age is used)
 
  How much will my RMD cost? (BETA)
  CuriousandCalculated.com
  TAXPAYER
  Current Pre-Tax Balance (e.g. IRA, 401k, etc.)  
    Projected Growth Rate      
  Current Roth Balance      
    Projected Growth Rate      
  Current Cash & Taxable Investment Balance      
    Projected Growth Rate      
       
             
  Average annual distribution pre-RMD age (do not include Roth Conversions)      
       
    YEAR TURN AGE 73    
    PROJECTED FIRST YEAR RMD     
         
    RMD Effective Tax Rate (estimated)  
Curious and Calculated:

If age 72 or turning 72 next year, this is not applicable to you.
       
  SPOUSE
  Current Pre-Tax Balance (e.g. IRA, 401k, etc.)  
    Projected Growth Rate      
  Current Roth Balance      
    Projected Growth Rate      
  Current Taxable Investment Balance      
    Projected Growth Rate      
       
       
  Average annual distribution pre-RMD age (do not include Roth Conversions)      
       
    YEAR TURN AGE 73  
    PROJECTED FIRST YEAR RMD     
       
    RMD Effective Tax rate (estimated)  
Curious and Calculated:

If age 72 or turning 72 next year, this is not applicable to you.
 
  What is the projected benefit of a single Roth Conversion? (BETA)
  CuriousandCalculated.com
  Amount Converted to Roth IRA*  
  *Default is oldest spouse assuming IRA balance exceeds conversion amount    
       
  Federal Tax Cost of Conversion    
  Additional Tax Cost (estimate)        
             
  Federal Tax Cost of RMD (highest rate)    
  Additional Tax Cost (estimate)        
    RMD effective tax rate under 2017 tax law  
Calculated by Tax Law 2017's change in tax divided by change in "IRA distributions not included above." This may not apply to all situations.

You may need to adjust the base year's IRA distribution if it already includes an RMD or distribution that shouldn't be included.
             
  Projected Investment Balance in year:      
    No Roth Conversion  
    With Roth Conversion  
       
    (Loss)/Gain of Roth Conversion  
       
  *Assumes tax on IRA distributions are paid from taxable investment account. No other withdrawals are included. Projected balances shows the after-tax value of the portfolio. The IRA is annually discounted by the RMD tax rate. 
 
 
             
 
  This is a complex calculation with the hope that it might help you understand the directional tax cost/benefits of a Roth Conversion. It's possible your situation cannot be modeled within this software. If you're not a tax expert, do not rely upon your results until you consult with a tax expert. This tool should not be relied upon as tax advice. You and you alone are responsible for your tax planning decisions.
 
 
 
  Tax Bracket Manager - 10 Year Projection (BETA)    
     
     
  CuriousandCalculated.com                         CuriousandCalculated.com        
  GENERAL      
Filing Status
Taxpayer Age (end of year)
Spouse Age (end of year)
Number age 65 and over
INCOME - Form 1040 Page 1
1 - Wages, salaries, tips, etc.
If you enter an amount in the Bracket Breakdown to calculate the Marginal Tax Rate of the next $X of Ordinary Income, then that amount is added here for the calculation.
2a - Tax-exempt interest
2b - Taxable interest
3a - Qualified Dividends
3b - Ordinary Dividends
4b - IRA Distributions
Roth Conversion
This is based on your ages and IRA balances as entered in the Roth Conversion Analzyer. This is not guaranteed to be accurate. You're responsible for reviewing. Consider this a directional estimate, at best.
 Required Minimum Distribution (BETA)
IRA Distribution Adjustments
  5b - Pensions and annuities                          
6a - Social Security Benefits
7 - Capital gain or (loss)
Go To SCHEDULE D - CAPITAL GAINS/LOSSES
Part 1, Line 7 - Net short-term capital gain
Part 2, Line 15 - Net long-term capital gain
SCHEDULE 1 - Form 1040
     1 - Taxable refunds, credits, or offsets to SALT
     2a - Alimony received
     3 - Business income (or loss)
     4 - Other gains or (losses)
     5 - Rental real estate, royalties, partnerships
     6 - Farm income or (loss)
     7 - Unemployment Compensation
     8 - Other income
9 - Total Income
     11 - Educator Expenses
     12 - Health Savings Account Deduction
     14 - Deductible part of self-employment tax
Assumes same as what you calculated on the main Tax Bracket Manager screen
This is prior year's number increased by inflation.
     15 - Self employed SEP, SIMPLE, and qualified plans
     16 - Self-employed health insurance deduction
     18a - Alimony paid
     19 - IRA deduction
     20 - Student loan interest deduction
     21 - Tuition and fees deduction
10 - Adjustments to Income
Adjusted Gross Income (AGI)
Modified Adjusted Gross Income
ITEMIZED DEDUCTIONS
Medical Expenses (7.5% AGI)
State and local taxes (ALL)
Real Estate Taxes
Total Taxes Paid
Mortgage and Investment Interest
Charitable Contributions
    Cash donations
    Capital Gain Property
    Non-cash donations (e.g. Goodwill)
Other Itemized Deduction (ALL)
Total Itemized Deductions
STANDARD DEDUCTION 
Taxable Income (Before QBI)
Qualified Business Income
Taxable Income
Regular Income Tax
Alternative Minimum Tax (AMT)
Medicare Tax
TOTAL INCOME TAX
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
Effective tax rate based on Modified Gross Income
CuriousandCalculated.com
 CuriousandCalculated.com