This tool gives you a detailed slab-by-slab breakdown of the taxes owed by an unmarried individual living in New York City. This tool is written in ReasonML, and uses ReasonReact and Recharts.
Click here: https://arjun-menon.github.io/tax-analyzer/
To install dependencies, run:
sh yarn install
During development, run:
yarn start
# in another tab:
yarn webpack-dev-serverBoth are long running commands, that will monitor the filesystem for changes, and automatically rebuild.
To generate a production-optimized JS artifact, run:
yarn run build
yarn run webpack:productionThe purpose of this web app is to just get a rough analysis of the taxes you owe. It doesn't cover things like:
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Alternative Minimum Tax: if you have a high income and take a large number of tax deductions, you may be subject to the Alternative Minimum Tax.
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Personal Exemptions Phase-out: personal exemptions are reduced with higher incomes, and eventually phased out. This is no longer relevant after 2018, since the tax reform passed in December 2017 eliminated federal personal exemptions.
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New York State restrictions on itemized deductions for high-income earners.
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Tax Credits, federal and state.
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New York State and New York City both offer a variety of credtis, see:
For example, most single NYC residents qulify for the school tax credit (form NYC-210, instructions). Lower incomes make one eligible for a wide variety of credits such as the NYS Household Credit, the NYS earned income credit, the federal EITC, the federal Saver's Credit, etc.
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