TaxMode: Income Tax Calculator

Sawhney Systems

Contains adsIn-app purchases

About this app

INCOME TAX CALCULATOR & PLANNER
This professional grade USA tax planner is designed to satisfy the advanced tax computation needs of a financial planner and yet it is simple enough to be used for a quick tax calculation by a casual user.

KEY ACTIVE FEATURES
Tax Year 2024 Ready!
● Updated for 2024, 2023 and 2022 tax years
● Included tax computations-
- Regular income tax
- Self-employment tax
- Qualified Business income deduction
- Net investment income tax
- Additional Medicare tax
- Itemized deductions with threshold & phase-out
- Personal exemptions with threshold & phase-out
- Child and Dependent Tax Credit
- Earned Income Credit calculations
- Alternative minimum tax
- Lump-sum distribution tax
- FICA taxes
● Includes Qualified Business pass-thru threshold and deductions
● 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*
● Automatic limitation of maximum amounts allowed for -
- Medical expenses
- Investment interest deduction
- Charitable contributions with deduction tests for 60%, 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 [e-mail] if you discover a computational error or have questions on a specific calculation. Thank you.



*Indicates premium functions

Ratings and reviews

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.

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.

What's new

Tax Year 2024 Ready!
● US Income tax computations for 2024, 2023 & 2022
● Updated 2024 computations include-
• Projected tax rate tables
• Updated FICA and Self-employment Tax
• Increased standard deductions
• Updated Alternative Minimum Tax Exemption (AMT)
• Updated Maximum capital gain rate amounts
• Updated Qualified Business Income threshold
• Updated base for Social Security
• Updated Student Loan Interest deduction
● Provides computation details for IRS forms, updated for 2023