Projected Future Tax Savings Under 2001 Tax Law Changes

The new tax laws are far-reaching in their effect. To find out how they will affect you over the next ten years, just input any tuition or retirement funds you might be paying in future years. Then see how your tax situation will be affected.

 

2002

2003

2004

2005

2006

New Deductions:

Tuition Deduction

Marriage Penalty Relief

Repeal of Phaseouts

Additional Retirement Plan Contributions

Total increase in deductions:

Bigger Credits:

Increase in Child Tax Credit

Increase in Child Care Credit

Total Savings:


 

2007

2008

2009

2010

2011

New Deductions:

Tuition Deduction

Marriage Penalty Relief

Repeal of Phaseouts

Additional Retirement Plan Contributions

Total increase in deductions:

Bigger Credits:

Increase in Child Tax Credit

Increase in Child Care Credit

Total Savings: