With the new tax bill in the works everyone’s been reaching out regarding how it’s going to affect them. Everyone’s situation is unique but we found this calculator to help ease your mind.
Below are some tips on how to fill out the calculator
1 ) AGI is line 37 of your tax return
2) Interest on your Mortgage – Schedule A line 15
3) Charitable Contributions- Schedule A line 19
4) State & Local Income Tax & Property Taxes- Schedule A Line 9
Compare taxes owed under the new plan to what you owed in 2016 by going to Line 63. There are still other factors on your return that can affect your bottom line but this gives a general idea.