Easy Tax Calculator
Calculate your self employment tax in seconds.
Powered by Litt App
Calculate your tax in seconds
LITT gives you an estimate of how much tax is owed each month to help you plan ahead for tax season In order to calculate your tax estimates, LITT bases this on the following in-app information: • Income – This is earnings received through gig income, takings and paid invoices
- Expenses – Any deductible business expense entered into LITT
Current month and Year to date tax estimates are calculated on the IRS taxable rates for independent workers and small business.
The estimated tax amount is comprised of the Social Security and Medicare tax levy on small business.
Tax estimates provided by LITT are based on the information entered into the calculator. The information provided is designed to assist budgeting in preparation for paying taxes.
The exact amount due will be calculated by the IRS or your accountant when all relevant tax documents have been submitted.
In order to fully understand tax obligations and correctness in record keeping, the IRS have easily digestible
Small Business Workshops offering guidance on taxes
More Information
The Easy Tax Calculator simplifies estimating tax liabilities to calculate their taxable income and apply appropriate tax rates. It provides a rough estimate of yours tax situation, offering a convenient overview that can guide further tax planning with a professional for more accuracy.
Yes, you can use Easy tax calculator for multiple income sources, such as gig income and paid invoices, to estimate your quarterly taxes. It provides estimates based on deductible expenses and IRS rates, aiding in budget preparation for tax season, though the final tax amount is determined by the IRS or an accountant.
LITT’s is a mobile app tailored for freelancers and small business owners, offering tools for financial management like expense tracking, project calendaring, and easy billing. It helps users manage finances efficiently with features for digital receipt storage and job detail tracking, aiming to simplify operations and reduce paperwork. LITT’s supports independent workers by providing big-company financial tools without the high costs, streamlining the management of self-employed finances.
Yes, your data is secure. To ensure data security, measures include data encryption during transfer and storage, robust authentication like two-factor authentication (2FA), adherence to regulations like GDPR for privacy protection, regular security audits to counteract vulnerabilities, and transparent data privacy policies that outline user data handling practices