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The quick tax calculator allows you to quickly calculate an entity’s tax for a given year. If you enter the taxable income, the tax thereon will be calculated. If you enter the tax thereon, the taxable income will be calculated.

To use the quick tax calculator
  1. From the Tax drop-down list on the toolbar, select Quick Tax Calculator. The Quick Tax Calculator appears.

  2. Select the Entity Type.

  3. Select the Tax Year.

  4. Either:

    • to calculate the tax thereon, enter the Taxable Income and press Tab

    • to calculate the taxable income, enter the Tax Thereon and press Tab.

  5. Click Close.