Tax Calculators
The 2025 tax law added four temporary federal deductions (for overtime pay, tips, new-car loan interest and people 65 and over), each with its own cap and income phase-out. These calculators work out what each one is worth to you in 2026, alongside self-employment tax and a full federal income tax estimate.
5 calculators · Last reviewed September 26, 2026
The calculators
No Tax on Overtime
How much of your overtime pay is now tax-free
No Tax on Tips
Your tip income deduction and tax saved
Car Loan Interest Deduction
What your new-car loan interest saves at tax time
Senior Deduction
The extra $6,000 deduction for people 65 and over
Self-Employment Tax
Your 1099 tax bill and quarterly payments
Which calculator answers your question?
How much of my overtime pay is deductible, and how much tax does that save?
No Tax on OvertimeI earn tips. What is the new tips deduction worth to me?
No Tax on TipsCan I deduct the interest on my new car loan, and how much?
Car Loan Interest DeductionI am 65 or older. How much does the extra senior deduction cut my tax?
Senior DeductionHow much self-employment tax do I owe, and what should my quarterly payments be?
Self-Employment TaxRoughly what will I owe in federal income tax for 2026?
Income Tax EstimatorKey ideas behind these calculators
Deductions are not tax-free dollars
A deduction lowers taxable income, not your tax bill directly. A $10,000 deduction saves $1,200 at a 12% marginal rate and $2,200 at 22%. That is why each calculator reports the tax saved, worked out by running the brackets with and without the deduction.
Caps and phase-outs
Each new deduction has a yearly cap, and it shrinks once your modified adjusted gross income passes a threshold. Above a certain income it disappears completely. Two people with the same overtime or tips can get very different deductions because of the rest of their income.
Income tax only
The overtime, tips and car loan deductions reduce federal income tax. They do not reduce Social Security and Medicare tax taken from your pay, and states decide separately whether to follow them.
Self-employment tax
Employees split Social Security and Medicare tax with their employer. Self-employed people pay both halves, 15.3% on most net earnings, and can deduct half of it. With no employer withholding, the IRS expects the tax in four quarterly estimated payments.
Temporary rules
The overtime, tips, car loan interest and senior deductions apply for tax years 2025 through 2028 unless Congress extends them. Every calculator states the tax year and figures it uses.
What these estimates leave out
- State and local income tax, which may or may not follow the new federal deductions.
- Credits (child tax credit, earned income credit and others), alternative minimum tax and itemized deductions, unless a calculator says it includes them.
- Eligibility details the IRS decides case by case, such as whether a job is on the tipped-occupation list or whether pay counts as qualified overtime.
- Your actual return. Check the figures against your W-2, 1099s and IRS instructions, or ask a tax professional.
See the full disclaimer and how we build and check the calculators.
Tax guides
All guides"No Tax on Overtime" 2026: What the Deduction Covers
The OBBBA lets you deduct qualified overtime pay through 2028: only the FLSA premium half, up to a cap, below certain income levels.
6 min read · Updated Sep 26, 2026
"No Tax on Tips" 2026: The $25,000 Deduction, Explained
Tipped workers can deduct qualified tip income through 2028: up to $25,000, with an income phase-out and an occupation eligibility list.
6 min read · Updated Sep 26, 2026
The $6,000 Senior Deduction 2026: How It Stacks
Taxpayers 65+ get a new $6,000 federal deduction through 2028, on top of the existing 65+ standard deduction, with its own phase-out.
6 min read · Updated Sep 26, 2026
Self-Employment Tax and Quarterly Payments, Explained
The 15.3% self-employment tax surprises new freelancers. How it is calculated, what offsets it, and how to size your quarterly payments.
7 min read · Updated Sep 26, 2026
Car Loan Interest Deduction 2026: Rules and Limits
Deduct up to $10,000 of interest on a loan for a new U.S.-assembled vehicle, 2025 through 2028. Who qualifies, the phase-out, and what it saves.
4 min read · Updated Sep 26, 2026
5 Tax Deductions for Freelancers and the Self-Employed
Home office, QBI, health insurance, retirement plans and half of SE tax: what each is worth in 2026, and which lower self-employment tax.
4 min read · Updated Sep 26, 2026