Break Even Analysis Calculator
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Break Even Calculator
Cash flow is the lifeblood of any business, an essential asset for your company to support everyday operations. Use this calculator tool to determine whether your present cash flow is enough to cover your needs for payroll, loan payments, inventory purchases, and any other financial draws on your business resources.
Marginal Tax Rate Calculator for 2017
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Marginal tax inputs:
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Your taxes are estimated at $11,139.
This is 15.47% of your total income of $72,000. 15.47% would also be your average tax rate. Your income puts you in the 25% tax bracket. At higher incomes, exemptions, many deductions and many credits are phased out. This increases your tax bill and your marginal tax rate. With these phase outs, adding $1,000 to your income would result in a 25% marginal tax rate.
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Definitions
- Federal Income Tax Rates
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Use the table below to assist you in estimating your federal tax rate.
Filing Status and Income Tax Rates 2017* Tax Rate Married Filing Jointly or Qualified Widow(er) Single Head of Household Married Filing Separately 10% $0 - $18,650 $0 - $9,325 $0 - $13,350 $0 - $9,325 15% $18,650 - $75,900 $9,325 - $37,950 $13,350 - $50,800 $9,325 - $37,950 25% $75,900 - $153,100 $37,950 - $91,900 $50,800 - $131,200 $37,950 - $76,550 28% $153,100 - $233,350 $91,900 - $191,650 $131,200 - $212,500 $76,550 - $116,675 33% $233,350 - $416,700 $191,650 - $416,700 $212,500 - $416,700 $116,675 - $208,350 35% $416,700 - $470,700 $416,700 - $418,400 $416,700 - $444,550 $208,350 - $235,350 39.6% Over $470,700 Over $418,400 Over $444,550 Over $235,350 *Caution: Do not use these tax rate schedules to figure 2016 taxes. Use only to figure 2017 estimates. Source: Rev. Proc. 2016-55 - Wages, salaries, tips, etc.
- This is your total taxable income for the year after deductions for retirement contributions such as 401(k)s, IRAs, etc. For tax filing purposes this would be the same as your Adjusted Gross Income (however the calculator is unable to take lower capital gains taxes into consideration).
- Filing status
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Choose your filing status. Your filing status determines the income levels for your Federal tax bracket. It is also important for calculating your standard deduction, personal exemptions, and deduction phase out incomes. The table below summarizes the five possible filing status choices. It is important to understand that your marital status as of the last day of the year determines your filing status.
Filing Status Married Filing Jointly If you are married, you are able to file a joint return with your spouse. If your spouse died during the tax year, you are still able to file a joint return for that year. You may also choose to file separately under the status "Married Filing Separately". Qualified Widow(er) Generally, you qualify for this status if your spouse died during the previous tax year (not the current tax year) and you and your spouse filed a joint tax return in the year immediately prior to their death. You are also required to have at least one dependent child or stepchild for whom you are the primary provider. Single If you are divorced, legally separated or unmarried as of the last day of the year you should use this status. Head of Household This is the status for unmarried individuals that pay for more than half of the cost to keep up a home. This home needs to be the main home for the income tax filer and at least one qualifying relative. You can also choose this status if you are married, but didn't live with your spouse at anytime during the last six months of the year. You also need to provide more than half of the cost to keep up your home and have at least one dependent child living with you. Married Filing Separately If you are married, you have the choice to file separate returns. The filing status for this option is "Married Filing Separately". For 2017, the standard deductions are:
Standard Deduction for 2017 Federal Income Tax Filing Status Standard Deduction Married Filing Joint $12,700 Qualified Widow(er) $12,700 Single $6,350 Heads of Household $9,350 Married Filing Separately $6,350 - Are you someone's dependent?
- Choose 'no' if no one can claim you or your spouse as a dependent. Choose 'yes' if someone can claim you as a dependent. Choose 'both you and your spouse if you both are dependents. (You are a dependent if someone supports you and can claim a dependency exemption for you.)
- Number of additional dependents
- A dependent is someone you support and for whom you can claim a dependency exemption. In 2017, each dependent you claim entitles you to receive a $4,050 reduction in your taxable income.
- Dependents qualifying for child tax credit
- You may be entitled to a child tax credit for each qualifying child who was under age 17 at the end of the year if you claimed an exemption for that child. The credit is, however, phased out at higher incomes.
- Itemized deductions
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This is the total of your itemized deductions that you can include on schedule A of your Federal income taxes. For most people this includes state income taxes paid for the year, interest on a mortgage and any charitable contributions. Other itemized deductions include certain investment expenses, medical expenses exceeding 7.5% of your adjusted gross income, and some moving expenses.
Your standard deduction will be automatically calculated for you based on the filing status and number of dependents you enter. If the number you enter here is lower, your standard deduction will be used to determine your average tax rate.
Definitions
Cash at beginning of period Total cash available at the beginning of the period.
Cash at end of period Total cash calculated for the end of the period. If this amount is lower than your beginning balance, your business has a negative cash flow. If this amount is negative, you may need to increase your cash flow to maintain your current operations.
Received from customers Cash received from your customers for the period. Make sure this amount is based on your actual receipts, not your booked sales. An increase in your accounts receivable may increase your profit on paper, but it does not change your cash flow.
Other cash receipts Any other cash received during this period. Again, make sure this amount is based on the amount actually received.
For inventory Total cash paid for the period to purchase inventory. Like your cash received, your cash paid during a period should be your actual cash payments.
For insurance Total cash paid for insurance, advertising, rent payments and lease payments.
For payroll Total cash paid for your payroll and employment taxes.
Other payments Any other cash paid during this period for your operations. This may include one-time expenses or incidentals such as postage, couriers, or office supplies.
Interest paid Total interest expenses you paid during this period.
Sale of property Include any cash received during this period from the sale of assets, including real estate, tangible assets and intellectual property.
Sale Cash received from the sale of any investments held. This includes the sale of investments in other companies, the sale of stock and the sale of bonds. It does not include issuing new stock or bonds for your company. This source of income is included in the financing section of your cash flow statement.
Other activity Any other cash received from your investment activities.
Capital expenditures Cash used to purchase capital equipment or land for use in your business.
Purchases Cash used to purchase new or increase the holdings of your investments. Like the sale of investments, only include the purchase of external investments. Stock buy back, and debt retirement are included in the finance section of your cash flow statement.
Other Use Cash used for any other investment activity.
New borrowing Net new borrowing for the period. Include new borrowing as well as the net increase in any line of credit borrowing.
Stock issuing Net cash received from issuing stock. Make sure this is the net amount, after any fees have been taken into account.
Capital contributions Any cash received from the owner(s) for the period.
Loan repayments Total loan principal repayments for the period. Do not include interest. Interest is included in the operating expenses of the cash flow statement.
Dividends paid Any cash dividends paid for the period.
Other distributions Any other financial distributions made during this period.
SurePayroll, Inc. and its subsidiaries assume no liability and make no warranties on or for the information contained on these state payroll pages. The information presented is intended for reference only and is neither tax nor legal advice. Consult a professional tax, legal or other advisor to verify this information and determine if and/or how it may apply to your particular situation.
This website contains articles posted for informational and educational value. SurePayroll is not responsible for information contained within any of these materials. Any opinions expressed within materials are not necessarily the opinion of, or supported by, SurePayroll. The information in these materials should not be considered legal or accounting advice, and it should not substitute for legal, accounting, and other professional advice where the facts and circumstances warrant. If you require legal or accounting advice or need other professional assistance, you should always consult your licensed attorney, accountant or other tax professional to discuss your particular facts, circumstances and business needs.
