TaxMode: income tax calculator
KEY ACTIVE FEATURES● US income tax computations for tax years 2017, 2016 & 2015.● Key items include-
- Regular income tax
- Self-employment tax
- High earner qualified dividend & capital gains tax
- Net investment income tax
- Additional medicare tax
- Itemized deductions with threshold & phase-out
- Personal exemptions with threshold & phase-out
- Alternative Minimum Tax calculations
- Earned Income Credit calculations
- FICA taxes● Quarterly Estimated Tax computations, report & IRS 1040ES form support*● Automatic selection of applicable tax computations● Automatic check for AMT applicability and analysis● Computes Earned Income Credit● Verify the adequacy of estimated tax payments● Analyze impact of specific deductions● Supported with details in terms of IRS tax forms*● Summary or detailed data entry options*● Side by side comparison of alternative scenarios for what-if analysis*● Effective tool for pre-tax return analysis● Ability to email reports*● Enhanced data entry*● Ability to load & save plans*● Pie chart & multiple reports*● Tax calculations include-
- Regular income tax
- Tax based on QDCG worksheet
- Self-employment taxes
- Net Investment Income Tax
- Additional Medicare tax
- Alternative minimum tax
- Lump-sum distribution tax
- Net Investment Income Tax
- FICA taxes● Automatic limitation of maximum amounts allowed for -
- Medical expenses
- Investment interest deduction
- Charitable contributions with deduction tests for 50%, 30% & 20% qualified contributions
- Unreimbursed business expenses
- Casualty & theft losses
- Student loan interest deduction
- Tuition & fees deduction
TaxMode is a quick and efficient app for income tax planning. It provides an easy way to compute taxes and perform what-if analysis. It contains detailed implementation of the latest US tax laws. TaxMode’s capabilities can satisfy almost any level of need for tax computation, planning and analysis.
This app can be a valuable tool for professionals and nonprofessionals alike. For a tax professional it will enhance your analytical ability, improve your day to day productivity and make tax planning more efficient. For an independent individual, it provides an easy to use tool to analyze the tax impact of a transaction in terms of taxes saved or increase in tax liability, calculate a quick year-end tax estimate, perform a pre-tax-return-filing analysis, or review the impact of any other tax related investment decision;
TaxMode can be used with confidence. It is created and supported by Sawhney Systems, a leading developer of personal financial and tax planning software. At Sawhney we have been providing software and related support services to the financial planning professionals since 1976. Our leading software package ExecPlan (www.execplan.com) was the first integrated financial planning software available commercially in USA and the most widely used professional software over past three decades. PlanMode (www.planmode.com) is our latest financial planning software designed to be a crossover product to fulfill diverse planning needs of a professional planner as well as a motivated individual involved in retirement or comprehensive financial and tax planning on mobile platforms.
We hope you have a productive and satisfying experience with this app and delight us by reviewing TaxMode Pro at Google Play.
Please let us know any thoughts or suggestions you may have while using TaxMode that will help us improve its functionality. Similarly, please write us at [email protected] if you discover a computational error or have questions on a specific calculation. Thank you.
*Indicates premium functions
Category : Finance
Reviews (30)
This is an excellent tax planning app. It has a simple and clear presentation numerically as well as graphic using a pie chart showing elements of income and tax. There seems to be a thorough implementation of income tax computations. All types of taxes are computed automatically if they are applicable based on the data entered. It provides computational details when you tap on any number on the result display. It will show the corresponding IRS form detailing how the tax amount was calculated.
I have been using TaxMode for over a year. I like this app and like its timeliness for updates even more. Tax planning is most useful before the year ends. This app is also great with updates. I particularly like the details of computations provided for each tax result. It gives you a great ability to analyze tax related situations instantly.
I use this app regularly. It is very easy to use and provides fully-supported results. It provides choice for 3 tax years that is helpful in analyzing income allocation between two years. It is great!
I like its design. The data input items and all the results are on the same screen in front of you making tax planning quick and efficient. Tax computations seem well covered.
I have reviewed other income tax calculators but none goes beyond the main tax computations. As an example, TaxMode is the only calculator that does the self-employment tax for business income AND FICA tax for salaried income. This is my choice app.
Outstanding app for tax planning. I like the pie mode for results displayed. It provides the overall analysis and has the bottom line results as well.
Nice to see a completed early version of the next year’s tax computations Perfect for comparing and deciding income and expense items to take in this year vs deferring to next year. Great year-end planner.
Great tax estimator, easy to use and understand. Help option and support is great too! Can't wait to see the updates!
Excellent app. It automatically computes all applicable income taxes based on data entered. Amazingly simple for tax planning.
Well designed for quick income tax planning. Unique feature that provides the computations behind a tax result as you tap on it. It adds confidence to the calculations.
It has been quite helpful in tax planning. Not a tax prep app but excellent for pre-tax return computations and doing what-if scenarios.
Excellent tax calculator! The unlimited free data option makes it even better.
Wonderful tax planner with cross year analysis. All taxes computed automatically. Nice quick comparison options.
This app gives you a simple way to analyze income & deduction options for the tax return. Great app!
Very nifty app on my Samsung that is readily available for quick tax planning. Results seem quite accurate.
This is an easily likable app. Its inclusion of FICA calculation among other taxes is a nice touch.
I love the app.you can look around to the specifics you want in a car in search an easy way
awesome resource to compare what you could be qualified to get back on your income tax.
Great tax planning app! Easy to follow results that are supported with references to the latest IRS tax forms. Its summary reports are quite useful.
Most efficient income tax calculator I have ever used. Excellent!!
Great tax calculator! Exactly what I was looking for. And, it is free!
Best income tax calculator app around. I vote it to be my Top 10 app.
Love this tax calculator! It makes tax planning so easy.
Super tax calculator! Free and easy!!
Very good income tax calculator for federal taxes
Not even in the same ballpark, the app takes a random guess!
Excellent income tax calculator!
Great tex calculator-simpel input provides precise results
Spent five minutes trying to get self employment income entered. Could find S-Corp support but out didn't seem too support self employment estimation.
This is an excellent tax planning app. It has a simple and clear presentation numerically as well as graphic using a pie chart showing elements of income and tax. There seems to be a thorough implementation of income tax computations. All types of taxes are computed automatically if they are applicable based on the data entered. It provides computational details when you tap on any number on the result display. It will show the corresponding IRS form detailing how the tax amount was calculated.