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Quick Federal Tax Bill Estimate for 2024 FAANGFIRE
Tax Bill Estimator (FAANGFIRE 2024)
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Tax Bill Estimator (FAANGFIRE 2024)

Andre Nader
Welcome to the FAANG FIRE Tax Bill Estimator. This is a simple tool to help you come up with a rough estimation of whether you might owe Federal Taxes when you file your taxes in April 2025.
Please see
https://andrenader.substack.com/p/estimating-your-2024-tax-bill
⁠
for a more detailed walkthrough. Thank you to Patrick Barry’s
Tax Calculator Coda
⁠
doc for giving me a jumping off point.
This is for educational purposes only. It is not intended to provide any tax/financial advice. It is an overly simplified calculator that is only looking at federal taxes, uses standard deduction, and doesn’t factor in anything else.
The “Form” below is not saving any data, Coda is storing the input/output within your browser. You will see “Responses won’t be saved because this doc is in play mode” within the form submission.
Tax calculator
Year to Date Earnings
Please enter your year to date earnings on your most recent paycheck
​
Pre-Tax Deductions
Please enter your year to date pre-tax deductions from your most recent paycheck (401k contributions, HSA, FSA, Medical, ect)
​
Year To Date Federal Tax Withheld
Year to Date Federal Withholdings from your most recent paycheck.
​
Interest, Dividends, Short Term Gains, Unemployment
Enter your interest earned (ie from savings accounts), dividends, Short Term Capital Gains, and unemployment payments if you have any.
​
Single or Married?
​
Responses won't be saved because this doc is in play modeSubmit
⁠

You may
You May Owe the IRS
⁠
-$19,013.60
⁠
⁠

Explainer: You have earned
$250,000.00
⁠
in 2024. So far you have withheld
$30,000.00
⁠
in Federal Taxes. Based on the standard deduction, reducing your income by Pre-Tax Deductions, factoring in your provided withholdings, and filing status the total withheld for a $0 tax bill would be
$49,014
⁠
.
Your Estimated Effective Federal Tax Rate is
21.99%
⁠
⁠
No data is saved. If you refresh your browser you will see your output gone from the history, your input was stored in your browser locally.
Output History
After-Tax Total Income
Year to Date Earnings
Pre-Tax Deductions
Enter Year to Date Interest, Dividends, Short Term Gains
Year To Date Federal Tax Withheld
Federal ordinary income tax owed
Tax Difference
Ordinary income
Single or Married?
Standard Deduction
CA Standard Deduction
California taxes owed
CA Ordinary Income
1
$180,302.95
$250,000.00
$22,500.00
​
$20,000.00
$33,732
-$13,731.66
$198,300.00
Married
$29,200.00
$10,726
$13,465
$216,774
2
$557,676.29
$1,000,000.00
$30,000.00
​
$285,000.00
$311,684
-$26,684.13
$955,400.00
Single
$14,600.00
$5,363
$100,640
$964,637
3
$65,248.04
$100,000.00
$22,500.00
​
$30,000.00
$8,891
$21,109.34
$62,900.00
Single
$14,600.00
$5,363
$3,361
$72,137
4
$321,684.01
$500,000.00
$50,000.00
$10,000.00
$100,000.00
$93,228
$6,771.90
$430,800.00
Married
$29,200.00
$10,726
$35,088
$449,274
5
$160,245.10
$250,000.00
$22,500.00
$10,000.00
$30,000.00
$49,014
-$19,013.60
$222,900.00
Single
$14,600.00
$5,363
$18,241
$232,137
There are no rows in this table
⁠



Social Security Max is $168,600, 6.2%
Medicare 1.45% Medicare tax on the first $200,000 of wages ($250,000 for joint returns, $125,000 for married taxpayers filing separate returns), plus
2.35% Medicare tax (regular 1.45% Medicare tax plus 0.9% additional Medicare tax) on all wages in excess of $200,000 ($250,000 for joint returns, $125,000 for married taxpayers filing separate returns).
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