TAXSIM.app

Finance and crypto

personal income tax calculator

SHOW HN2022

497points
155comments
#55of 2,570 in 2022
Top 3%of 2022 by points

How HN took it

CuriousMostly questions and neutral comments

8 positive, 25 neutral or asking, 1 mixed, 11 critical, out of 45 comments about the project. Thread score -0.05.

Execution: 2 for, 5 againstDesign: 1 for, 3 againstIdea: 1 for, 1 againstPerformance: 0 for, 2 against

The thread, comment by comment

Each row is a top-level comment and its replies, in HN's order. Select a cell to open that comment on HN.

positive neutral or mixed critical about another commenter or something else the maker

What HN said

What people liked

  • Useful historical view of tax rates

    From 2 comments
    • I wish this would get written up in mainstream media. Hypothesis being that if more people knew this existed, it would put additional pressure on Congress to simplify tax filing.
      KerrAvon on HN
    • This is awesome! Permanently bookmarked!
      cyrusthegreat on HN

Objections

  • Does not account for historical deductions and loopholes, so older years are misleading

    From 3 comments
    • In the 1970s there were massive tax deductions that don't exist today, so the actual tax incidence was much lower than what is implied by the marginal tax rates. There was a…
      jandrewrogers on HN
    • This seems beyond misleading it doesn't even have a method to enter most of the now illegal methods to lower your tax bill. Tax straddles were only banned in 1977 before that you…
      tick_tock_tick on HN
    • Didn’t take a close look but the 1986 (?) tax code update close major tax avoidance pathways (passive loses and tax shelters in wiki link). I think one issue with calculators…
      refurb on HN
  • Missing state and local taxes, and the 2018 SALT deduction change is not modelled

    From 2 comments
    • This calculator doesn't seem to support local income taxes, which many states have [1]. For example Maryland has income tax brackets than other states, but each county levies its…
      minhazm on HN
    • The tax is not accurate historically, for higher income brackets. Prior to 2018(?) you could deduct the majority of your state income tax from the federal income tax (the "Trump…
      lettergram on HN
  • Child tax credit phase-out is out of date for 2022 and later

    From 1 comment
    • The child tax credit calculation is incorrect for 2022+ It should not phase out at 150,000 anymore, but rather starting at 200,000 for single or 400,000 for married filing…
      taxman135 on HN

Requests

  • Graph of tax amounts over time

    From 5 comments
    • This is great. Could you add a box that displays effective tax rate and marginal rate? It would also be great to provide a line graph that shows the result for all years. There’s…
      forrestthewoods on HN
    • This is great. I would also love to see a graph of the federal tax over time from 1960 to today.
      divbzero on HN
    • This is great! If you’re taking feature requests I’d love to see a bar or line chart showing the amount of taxes paid for the Y axis and year on the X axis. Would make comparing…
      bradgessler on HN
    • Would be helpful if there was a way to see a graph of how the amounts change over time. I find myself putting in my info and then click minus on the years to see how the years…
      CSMastermind on HN
    • This is awesome! Two features requests: 1. A plot over time 2. Could you adjust the income for inflation, so when you click back 1yr your income goes down accordingly?
      raptortech on HN
  • Show effective tax rate alongside marginal rate

    From 2 comments
    • Very cool, especially hearing about the implementation. Feature request: Put the effective overall tax rate calculation somewhere on the page - so often people are confused that…
      googlryas on HN
    • This is great. Could you add a box that displays effective tax rate and marginal rate? It would also be great to provide a line graph that shows the result for all years. There’s…
      forrestthewoods on HN
  • Adjust historical incomes for inflation

    From 2 comments
    • This is awesome! Two features requests: 1. A plot over time 2. Could you adjust the income for inflation, so when you click back 1yr your income goes down accordingly?
      raptortech on HN
    • Was hoping it would adjust today's income for inflation going back with a chart over time
      zild3d on HN
  • Add net income after calculation

    From 1 comment
    • This is really great. Can you please add Net Income after calculation. That would be useful.
      guiltygods on HN
  • Add local city and county taxes

    From 2 comments
    • Is there an option to add some cities or counties, like new york city's local tax?
      novok on HN
    • This calculator doesn't seem to support local income taxes, which many states have [1]. For example Maryland has income tax brackets than other states, but each county levies its…
      minhazm on HN

Questions

  • Are dollar amounts inflation adjusted across years?

    From 2 comments
    • Are all the dollar amounts in the simulated tax output at the top of the page inflation adjusted? For example, I inputted married, with no dependents with $500,000 salary and in…
      keehun on HN
    • Cool use of emscripten. Is this handling inflation at all? Fixed-number items like standard deduction will be impacted by that. I think it gives a general idea of the tax…
      mNovak on HN
  • Why is income capped at $500,000?

    From 2 comments
  • How does this differ from TurboTax?

    From 1 comment
    • How is this different than turbotax for instance?
      idomi on HN

Alternatives named

  • PolicyEngine US / OpenFisca US

    From 1 comment
    • Fantastic job making taxsim more accessible! We've built an open-source version of taxsim called OpenFisca US [1] which we expose in our (also open-source) web app, PolicyEngine…
      MaxGhenis on HN
  • Tax-Simulator (PSL Tax-Calculator)

    From 1 comment
    • In 2014, the Policy Simulation Library [1] added a model called Tax-Simulator [2], which is a Python reimplementation of TAXSIM [3][4]. It is available as open-source [5], and…
      tmm1 on HN
  • UsTaxes

    From 1 comment
    • Sort of tangentially, I'm working with other contributors on https://ustaxes.org, an open source tax filing webapp https://github.com/ustaxes/UsTaxes. Currently, many Federal tax…
      aidangrimshaw on HN
  • listentotaxman.com

    From 1 comment
    • The US personal tax code looks extremely complicated to British eyes, but British people have a similar calculator at their disposal at https://listentotaxman.com/ though it only…
      petercooper on HN
  • SmartAsset income tax calculator

    From 1 comment
    • This calculator doesn't seem to support local income taxes, which many states have [1]. For example Maryland has income tax brackets than other states, but each county levies its…
      minhazm on HN
  • TurboTax

    From 1 comment
    • How is this different than turbotax for instance?
      idomi on HN

Category, keywords, summaries and labels on this page were made by AI (Thread Reader v2) and not checked by hand. Each point links to the comments it came from.

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