The American Institute of CPAs offers a helpful calculator tool that you can use free of charge. It shows what taxes you will pay and the estimated amount you’ll pay for the year. You’ll also gain insight into what affects those numbers, and how various scenarios would change your tax situation. There are a lot of changes that will take place for the 2012 tax year, so this tool should be especially helpful.

The calculator is provided as a public service, so all you’ll need to use it is some time and a copy of your 1040 and other bills for the last year.

Use the calculator >>
Learn more about the 2012 tax changes >>