The Bush Tax-Cut Worksheet

·Click here to see the worksheet below
YOU PROBABLY KNOW that President Bush's new tax cut is going to put a little extra money in your pocket. But how much? Use our calculator to find out. (For a complete tutorial on what's included in the tax cut, click here.)

After you enter your 2003 tax information (estimate these figures as best you can), the calculator will compute what you would owe under the old rules vs. the new rules.

Keep in mind, though, that our calculator doesn't take the alternative minimum tax, or AMT, into account. So if you're one of the millions of taxpayers carrying that burden, your actual tax savings could be a bit less than what's shown here. (Remember: This is an estimation only.) The new law does include limited AMT reform, but maybe not enough to get you off the hook.