See How The
One, Big, Beautiful Bill
Affects You
How much could you save? Compare your taxes under the proposed One, Big, Beautiful Bill, current rates, and what happens when Trump's tax cuts expire.
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Calculate Your Tax Impact
Portion of total income from tips (max $37,500)
Portion of total income from overtime (max $22,500)
Specify how much of your total income comes from tips or overtime. These amounts are tax-free under the One, Big, Beautiful Bill for 2025 (full benefit up to $150k, phaseout from $150k-$200k).
About This Calculator
2025 Tax Bill
This scenario calculates your estimated tax burden if the proposed 2025 tax bill passes without modifications.
View Official Bill TextCurrent 2024 Rates
This shows your tax obligation under the current tax law for 2024, including the Trump tax cuts.
IRS TCJA Business GuideTax Cuts Expire
This scenario shows what would happen if the Trump tax cuts expire completely without replacement.
IRS Tax Reform HubFrequently Asked Questions
How accurate is this calculator?
This calculator provides estimates based on publicly available information about tax proposals and current tax law. It uses simplified calculations and should not be used for tax planning purposes.
What factors are considered in the calculation?
The calculator considers your income, filing status, location (zipcode), dependents, children, state and local taxes, mortgage interest, charitable contributions, and other itemized deductions. It automatically determines whether itemizing or taking the standard deduction is more beneficial.
What is the SALT deduction and how does it work?
SALT (State and Local Tax) deduction allows you to deduct state and local taxes from your federal taxable income. Under current TCJA, it's capped at $10,000. The One, Big, Beautiful Bill raises this to $40,000 with income phase-outs. Pre-TCJA rules had no cap.
IRS SALT Deduction GuideWhen will the Trump tax cuts expire?
Many provisions of the Tax Cuts and Jobs Act of 2017 are set to expire after 2025 unless Congress extends them. This includes the enhanced standard deduction, suspended personal exemptions, and the $10,000 SALT cap.
View Original TCJA TextWhat is the QBI deduction?
The Qualified Business Income (QBI) deduction allows eligible business owners to deduct up to 20% of their business income under current TCJA rules. The One, Big, Beautiful Bill increases this to 23%.
IRS QBI Deduction GuideSources & References
Official Legislation
All calculations are based on publicly available information from official government sources. This tool is for educational purposes and should not replace professional tax advice.