Best tool for income, tax, and savings scenarios??

[redcedar]

As I start working on my 2015 tax return, I also start wondering about what-if scenarios for future years. What if my income increases 20k? What if we max out all of the tax deferred options? What if I focus a bit less on tax deferred and finally build a bigger taxable fund? What do I need to do to reduce taxable income to hit beneficial breakpoints or miss detrimental breakpoints?

I find tax software an ok tool but it's very weak at projecting w-2 data points. I try matching that with a paycheck estimator from paychex or adp but it's a lot of back and forth for every subtle change.

What tools are popular for running scenarios on how changes in income,tax, and savings rates affect the other two?

[MDM]

As I start working on my 2015 tax return, I also start wondering about what-if scenarios for future years. What if my income increases 20k? What if we max out all of the tax deferred options? What if I focus a bit less on tax deferred and finally build a bigger taxable fund? What do I need to do to reduce taxable income to hit beneficial breakpoints or miss detrimental breakpoints?

I find tax software an ok tool but it's very weak at projecting w-2 data points. I try matching that with a paycheck estimator from paychex or adp but it's a lot of back and forth for every subtle change.

What tools are popular for running scenarios on how changes in income,tax, and savings rates affect the other two?

Networthify is probably the simplest decent one, but it doesn't really address taxes.
www.i-orp.com seems to do a good with generic tax predictions.
See http://forum.mrmoneymustache.com/investor-alley/sell-taxable-to-keep-maxing-tax-advantaged/msg945982/#msg945982.  If that might address your "breakpoints" question, see the link in that post.

[redcedar]

Networthify is probably the simplest decent one, but it doesn't really address taxes.
www.i-orp.com seems to do a good with generic tax predictions.
See http://forum.mrmoneymustache.com/investor-alley/sell-taxable-to-keep-maxing-tax-advantaged/msg945982/#msg945982.  If that might address your "breakpoints" question, see the link in that post.

Thanks MDM for the ideas. I had not come across the i-orp page before and it has been fun to plug in a few scenarios. I also grabbed a copy of the cash flow doc for future use.

[MidWestLove]

Try taxcaster below - does exactly that for me

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

[redcedar]

Thanks MWL.  Love the interface and that I can do it on my tablet while sitting with the family at night during homework time, jeopardy time, etc.

[electriceagle]

There is an excel spreadsheet which simulates the 1040. Its not perfect, but it can give you an idea of how your taxes will come out:

https://sites.google.com/site/excel1040/

[Mississippi Mudstache]

Try taxcaster below - does exactly that for me

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

Like most tax estimation tools, that one does not appear to take the saver's, EIC, or additional child tax credits into account. I entered this year's tax information, and it gave me an estimated return of $250 when in fact I will receive >$5,000. So its helpfulness is limited if you qualify for any of those credits.