Calculate federal tax on the corporation's taxable income using the tax table on page 18 of Form 1120 instructions. For example, if taxable income is $500,000 federal income tax would be $170,000.

That also varies depending on where you live and work. Here's a primer on income tax: what it is, how it works, how to calculate it and which states don't have it.

Estimate your federal refund or taxes due using our free income tax calculator. Enter your income, age and filing status to get started.

The effective tax rate is the percent of income or pre-tax profits that an individual or a corporation pays in taxes.

Using the information on your paycheck stub, you can estimate your tax refund for the year (or how much you'll owe). Here's how.

Then, calculate adjustments for income, such as contributions to an IRA or the deduction for self-employment taxes. Subtract these from total income and claim the standard deduction.

Learn how to calculate payroll taxes in these easy steps. Follow our guide for accurate tax deductions, tips, and tools to simplify payroll processing.

Learn how to calculate your annual income, whether you're salaried, hourly, or self-employed. Discover tips for accurate calculations and understanding your financial picture.

Modified adjusted gross income, or MAGI, is a crucial tax term to know if you want to qualify for valuable tax benefits.