After-Tax Cost of Debt Calculator
Calculate the after-tax cost of debt including tax shield savings, effective interest rates, and lifetime interest analysis for corporate and personal debt.
Trump Tax Calculator (TCJA)
Compare 2026 current-law federal taxes against the historical pre-TCJA rules to see how the standard deduction, SALT cap, and child credit changed the result.
2026 Current-Law Tax⧉
$13,170.00
Effective rate: 13.2%
Pre-TCJA Tax (2017 Law)⧉
$16,226.25
Effective rate: 16.2%
Current-Law Savings vs 2017⧉
$3,056.25
You save 18.8% under current law
Current Standard Ded.⧉
$16,100.00
Using standard deduction
Child Tax Credit⧉
$0.00
$2,200/child current law vs $1,000/child pre-TCJA
SALT Cap Cost⧉
$0.00
Within the modeled 2026 SALT cap
Current Deduction Used⧉
$16,100.00
Standard deduction
Pre-TCJA Personal Exemptions⧉
$4,050.00
Eliminated under current law
Tax Comparison
2026 Current Law
$13,170.00
Pre-TCJA (2017)
$16,226.25
| Income | Current-Law Tax | Pre-TCJA Tax | Savings |
|---|---|---|---|
| $40,000.00 | $2,620.00 | $2,826.25 | +$206.25 |
| $60,000.00 | $5,020.00 | $6,226.25 | +$1,206.25 |
| $80,000.00 | $8,770.00 | $11,226.25 | +$2,456.25 |
| $100,000.00 | $13,170.00 | $16,226.25 | +$3,056.25 |
| $150,000.00 | $24,734.00 | $29,927.75 | +$5,193.75 |
| $200,000.00 | $36,734.00 | $43,927.75 | +$7,193.75 |
| $300,000.00 | $68,134.25 | $76,442.75 | +$8,308.50 |
| $500,000.00 | $138,134.25 | $146,671.05 | +$8,536.80 |
Planning notes, formulas, and examples
About the Trump Tax Calculator (TCJA)
This calculator compares 2026 current-law federal tax against the historical pre-TCJA tax code. The 2026 side reflects the 2026 brackets, standard deductions, child tax credit, and SALT cap modeled on this page. The historical side restores the pre-TCJA deductions, personal exemptions, and higher rates so you can see the effect of the TCJA-era changes in context.
It is a comparison tool, not a filing calculator. Use it to see whether the standard deduction, child credit, or SALT cap is doing most of the work for the case you are modeling.
When This Page Helps
This calculator is useful when you want to separate the effect of 2026 rules from the older pre-TCJA system without treating the older law as a filing option. It shows whether the standard deduction, child credit, or SALT cap is the dominant driver of the difference.
How to Use the Inputs
- Enter your gross annual income and filing status
- Set the number of children for the child credit comparison
- Enter pre-tax deductions if applicable
- Enter state and local taxes to see the SALT cap effect
- Add mortgage interest and charitable contributions
- Compare 2026 rules against the historical pre-TCJA baseline
- Use the income comparison table for a quick range check
Formula used
2026 rules: standard deduction $16,100 single/MFS, $32,200 MFJ/QSS, $24,150 HOH; child credit $2,200 per child; SALT base cap $40,400 ($20,200 MFS) in the 2026 model, with a simplified phase-down toward a $10,000 floor ($5,000 MFS) once approximate MAGI exceeds $505,000 MFJ/QSS or $252,500 for other filing statuses.
Pre-TCJA law: standard deduction $6,350 single/MFS, $12,700 MFJ/QSS, $9,350 HOH; child credit $1,000 per child; personal exemption $4,050 per person; no SALT cap.
Savings = Pre-TCJA Tax − 2026 TaxExample Calculation
Result: 2026 tax about $13,170 vs pre-TCJA tax about $16,226
At $100,000 of gross income with no children, the larger 2026 standard deduction and lower 2026 rate schedule still outweigh the historical pre-TCJA structure. With $8,000 of state and local taxes, $5,000 of mortgage interest, and $1,000 of charitable giving, the modeled SALT cap does not bind in this example, so the difference is driven mostly by the 2026 bracket schedule and deduction amount.
Tips & Best Practices
- The SALT cap is usually the biggest swing factor for high-tax-state filers
- Children are worth $2,200 each under 2026 rules versus $1,000 under pre-TCJA rules
- Use the filing status selector carefully because the 2026 deduction and pre-TCJA deduction both depend on it
- If you want a pure 2026 estimate, use a dedicated tax calculator instead
- This page is for historical comparison and planning only
TCJA Comparison
This calculator compares 2026 rules against the pre-TCJA tax code. The 2026 side reflects the brackets, standard deduction, child credit, and SALT cap; the historical side restores the pre-TCJA deduction and exemption structure.
Comparison Inputs
Match filing status, children, and SALT as closely as you can to the scenario you want to test. High-tax-state filers usually see the biggest change because SALT is capped on the 2026 side.
Planning Notes
This is not a return-prep calculator. It is a historical comparison that helps explain why the same income level can produce a different tax bill under the old code versus 2026 rules.
Sources & Methodology
Last updated:
Methodology
The 2026 side uses the IRS-published 2026 inflation-adjusted ordinary brackets and standard deductions, plus the 2026 child credit and the corrected 2026 estimated-tax SALT amount published by the IRS. For the SALT limitation, the page uses a planning approximation: a $40,400 cap, or $20,200 for married filing separately, with a 30% phase-down above the applicable income threshold until the deduction reaches a $10,000 floor, or $5,000 for married filing separately. The pre-TCJA side restores the historical pre-TCJA rate schedule, standard deduction, personal exemptions, and child credit so the comparison isolates the effect of TCJA-era changes.
Sources
- IRS releases tax inflation adjustments for tax year 2026, including amendments from the One, Big, Beautiful Bill (Internal Revenue Service) — 2026 ordinary brackets and standard deduction amounts.
- Revenue Procedure 2025-32 (Internal Revenue Service) — 2026 child tax credit amount and related inflation-adjusted items.
- Correction to State and Local Income Tax Deduction Amount in the 2026 Form 1040-ES (Internal Revenue Service) — Corrected 2026 state and local tax deduction amount used for the current-law side.
- Understanding the One Big Beautiful Bill individual tax provisions (Internal Revenue Service) — Context for the post-TCJA individual provisions used on the 2026 side of the comparison.
- Publication 17 (2025), Your Federal Income Tax (Internal Revenue Service) — General SALT limitation overview used in the 2026 comparison model.
- Publication 17 (2017), Your Federal Income Tax (Internal Revenue Service) — 2017 personal exemption amount and TCJA suspension context.
Frequently Asked Questions
The 2026 side uses the IRS-published 2026 inflation-adjusted ordinary brackets and standard deductions, plus the post-TCJA individual rules that remain in force for that tax year. The historical side is only there to show what the older pre-TCJA code would have looked like on the same income.
Middle-income families with children usually benefit from the larger standard deduction and the higher child credit, while high-tax-state filers can lose some of the gain because of the SALT cap.
The SALT cap limits the federal deduction for state and local taxes. In this calculator, the 2026 side starts from a $40,400 cap, or $20,200 for married filing separately, then applies a simplified phase-down toward a $10,000 floor, or $5,000 for married filing separately, at higher incomes.
They were removed under TCJA and replaced by a larger standard deduction and higher child credit. The comparison shows how that tradeoff affects a return with and without children.
The long-term capital-gains rate structure itself stayed at 0%, 15%, and 20%, but the income thresholds moved. This calculator focuses on the standard deduction, SALT cap, and child credit changes that most often drive the result.
TCJA raised AMT exemption amounts and phase-out thresholds, which reduced AMT exposure for most households. This page does not model AMT directly.
More in this topic
AGI Calculator
Calculate your Adjusted Gross Income (AGI) with common income sources and above-the-line deductions using a 2026 planning worksheet.
Alabama Tax Calculator
Calculate Alabama state income tax with current state brackets, the Alabama standard deduction chart, personal and dependent exemptions, the federal tax deduction, and optional local tax.