FREE NEWSLETTER
Go to main Forum page »
I recently came across the tax estimation tools page on the Bogleheads Wiki. I found the information and links useful and think it is likely that other HumbleDollar readers will also.
It was interesting to me to learn to that the AARP free tax calculator that I often use appears to be a licensed version of the current Dinkytown program referenced in the Wiki article with the Dinkytown version being updated more frequently and thus the Boglehead’s recommend over the licensed versions. As of yesterday the software has not yet been updated for the 2025 OBBBA tax law changes. I have read that may be coming at the end of September. You can also use the tax estimator at the developer’s website for free. Lot’s of other useful free financial calculators also at Dinkytown.
For those who like excel spreadsheets there is also one to download from a different developer that has been updated for OBBBA already. I have downloaded but I have not yet dug into the program that but it appears to be comprehensive.
I hope you find this to be a useful reference.
Best, Bill
Thanks for this Bill. I for one wasn’t aware of Dinkytown. I recognize the calculator I normally use there; now I know where it comes from! Interesting and not surprising that theirs might be updated sooner than licensed versions. Unless I’m missing something though, it appears to me that it’s in the open, not requiring one to sign into an account. Since you mention it hasn’t yet been updated, I didn’t look closely enough to see if it can be started and saved.
As we use the standard deduction my work around on the AARP tax calculator is to put our new MFJ 2025 standard deduction (31,500) + the bonus deduction (3,200) + two over age 65 senior deduction (12,000) = 46,700 in the interest line to make the system think I am itemizing.
Hopefully, we will have the finalized version to allow us to plan for 2025 soon. I have some part time wages from earlier in 2025 so I have a lot of flexibility for 2025 as I can use money from my 2026 RMD to contribute to either our 2025 traditional or Roth IRA early in 2026.
Thanks for that tip. I’d like to sell some of a fund but already did a Roth conversion when markets were down earlier in the year so I don’t have a lot of flexibility left to realize the gains from doing so. I’ll likely wait til late in the year anyway when there are fewer estimates to make but would still like to see a tentative tax picture sooner rather than later. If I run out of patience waiting for the updated calc I may try this workaround.
Great tip on the work around. I did something similar when the bill was first signed
Thank you, Bill!
Bill, thank you so much keeping us abreast of tax information. You provide a great service.
Bill, thanks very much for this information. I look forward to checking out these tools. I always appreciate your contributions to the site.