The Home of
Many Happy Returns™
100 Jericho Turnpike, Suite 225
Jericho, NY 11753-2702
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Click on a link on the left to choose a financial calculator. Although the calculators can be a useful basic tool, TaxLand, Inc. will be happy to assist you with professional advice. Contact us for a consultation.
Links are also provided for your convenience.
Cash Flow Calculator - This calculator was designed to convert all inflows and outflows into their monthly equivalents making it easier to see how much you can really afford to spend during any given month. And because your household is just as much a business as any traditional business, I've set up the various sections in the same way most businesses would set up their cash flow worksheet.
College Funding Calculator - This calculator will help you to determine how much money you need to invest on a monthly basis now, in order to be able to pay for your child's college education by the time they are ready to start college. The calculator allows you to choose between In-State and Out-of-State, between Resident and Commuter and between Public or Private -- and adjusts the estimated costs according to those selections. Plus, the calculator even adjusts the future cost of attending college based on your own estimated rate of inflation.
Debt Consolidation Calculator - When the typical debt-consolidation company advertises that they can "save you money," what they are most often referring to is simply a reduction in your total monthly debt payments -- not a savings in the cost of paying off your debt (interest charges). Sure, by consolidating your payments into a single loan, you might be paying one monthly payment that is smaller than the sum of your current monthly payments, but if they stretch your loan out for a longer period of time you could actually end up paying more interest by consolidating. This calculator will help you to determine whether or not consolidating will actually reduce the cost of retiring your debts.
Expense Percentage Calculator - This calculator will help you to determine what percentage of your income you are currently spending on each of your various expense categories (food, clothing, etc.). Simply enter the income for the period you will be entering expenses for (enter monthly income if you are entering monthly expense amounts, annual income for annual expense amounts, and so on), enter the name of each expense category and their corresponding periodic amounts -- pressing the "Tab" key after each entry. The percentage amount should automatically fill-in.
Generic Savings Calculator - This calculator will show you how much you'll save over the course of your lifetime when permanently switching from any given high priced buying habit (name brand) to its functional, less expensive equivalent (generic). Plus, it will also show you how much interest you could earn if you were to invest all or part of those savings as you realized them. As you're about to see, "a penny saved" can REALLY ADD UP!
IRA Calculator - This traditional IRA calculator calculates the yearly distribution after retirement if you contribute your money into a traditional IRA and then compares this amount to the yearly distribution when you put your money into a non-IRA account instead.
It shows the power of income tax deferral when you contribute money into your traditional IRA. Under an ordinary investment account, the interest earnings from the account are taxable. This reduces the after-tax rate of return that your money is compounded. If you use the money to contribute into a traditional IRA (even with the same investment instruments), the accumulated interest earnings will taxed only when you withdraw them. The rate return used for compounding is the before-tax rate of return.
The following traditional IRA calculator shows you the power of interest compounding when the interest earnings of your investments in your traditional IRA is tax deferred.
Loan Comparison Calculator - To calculate the payment amount and the total interest of any fixed term loan, simply fill in the 3 left-hand cells of the first row and then click on "compute." Use the other three rows to see what effects are produced by changing any one of the loan's original variables.
Monthly Deposit Savings Calculator - To calculate the future value of a monthly investment, enter the beginning balance, the monthly dollar amount you plan to deposit, the interest rate you expect to earn, and the number of years you expect to continue making monthly deposits.
Mortgage Calculator – Calculates mortgage payment amount and total interest.
Net Worth Calculator - This calculator was designed to help you to take a "picture" of your current financial condition. Whereas an income and expense statement shows you your financial picture for a period of time (month, year, etc.), this Net Worth Calculator will show you your financial picture at a single point in time (a specific date). That way, if you compute your Net Worth now, and then again 3 months from now, you will be able to tell whether your financial picture is improving or getting worse.
Payment Breakdown Calculator - This calculator will help you to determine the principal and interest breakdown on any given payment number.
Portfolio Mix Calculator - This calculator is based on Sound Mind Investing author Austin Pryor's "Just-the-Basics" investment strategy. Upon selecting your life-phase and investing temperament, this calculator will not only tell you the exact portfolio mix you should strive for, but it will even calculate the specific dollar amounts based on the amount of money you have available for investing.
Retirement Savings Calculator - Use this retirement savings financial calculator to compute how much you would need to have invested in order to withdraw a specified amount each year over the course of a specified period of time. For example, if you want to be able to withdraw $500 during each month of your expected 20-year retirement, this calculator will tell you that if you expect to earn a 10% interest rate you will need to have $51,812.30 saved up by the time you retire. This is often referred to as "Present Value of an Annuity" analysis.
Savings Goal Calculator - Use this savings goal financial calculator to figure how much your current savings will grow and how much more you'll need to save each month in order to achieve a given savings goal within a given number of years. Start with Line 1 and enter your future savings goal.
Single Deposit Savings Financial Calculator - To calculate the future value of a one-time, lump-sum investment, enter the dollar amount invested, the interest rate you expect to earn, and the number of years you expect to let the investment grow.
Variable Compounding & Deposit Savings Calculator - This calculator not only allows you to compute and compare the forecasted interest earnings on various investment scenarios, but it also allows you to choose the deposit and compounding intervals. No longer will you need to wonder if an investment offering a 6% return, compounded daily is better than an investment offering a 7% return, compounded annually.
To calculate the forecasted earnings of an investment, enter the beginning balance, the amount you plan to add to your investment (if any) at the specified intervals, the interest rate you expect to earn and the compounding interval, and the number of years you expect to allow your investment to grow. Since varying deposit and compounding intervals lead to very complex calculations and considering the actual earnings of an investment may be calculated using any one of several methods, the results calculated by this tool should be considered as estimates only.
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TaxLand, Inc. has been providing accounting services in the New York (NY), Long Island communities of Nassau County, Queens County, Metropolitan New York Area, Brooklyn, Bronx, Staten Island, Manhattan, Suffolk County, Westchester, Kings County, New Jersey (NJ), Florida (FL) , North Carolina (NC), Virginia (VA), Washington DC (DC), Massachusetts (MA), Pennsylvania (PA), Connecticut (CT), California (CA), Oregon(OR), Ohio (OH), South Carolina (SC), Delaware (DE), Maryland (MD),
Within these states, especially Long Island, New York (NY) we frequently service Addisleigh Park, Albany, Albertson, Alexandria, Allendale, Alpharetta, Amityville, Andover, Ardsley, Arlington, Arverne, Asharoken, Astoria, Atlanta, Atlantic Beach, Babylon, Baldwin, Baldwin Harbor, Baltimore, Bay Shore, Bayshore, Bayside, Bedford, Bedford Hills, Bedminster, Bellerose, Bellmore, Bessemer, Bethpage, Beverly Hills, Binghamton, Blackstone, Blakeslee, Bloomfield, Boca Raton Florida (FL) , Bohemia, Bound Brook, Boynton Beach, Branford, Brentwood, Briarwood, Bridgehampton, Bridgewater, Broad Channel, Bronx, Bronxville, Brookline, Brooklyn, Brookville, Brookville, Calabasas, Caldwell, Cambria Heights, Candor, Carle Place, Carmel Valley, Cedar Grove, Cedarhurst, Centereach, Centerport, Central Islip, Chappaqua, Cherry Hill (NJ), Chicago (IL), Cincinnati (OH), Clifton Park, Cold Spring Harbor, College Point, Columbia, Commack, Copaigue, Coral Springs (FL), Coram, Cornwall, Cortlandt Manor, Cos Cob, Cranbury, Crown Point, Crystal Beach, D' Abadie, Dallas (TX), Danville, Darian, Deer Park, Delray Beach (FL), Deltona, Denver (CO), Derby, Des Moines, Dix Hills, Douglaston, Durham, East Brunswick, East Elmhurst, East Fairfield, East Farmingdale, East Flatbush, East Hills, East Islip, East Meadow, East Northport, East Norwich, East Patchougue, East Rockaway, East Rockaway, East Rutherford, East Williston, Elizabeth, lmhurst, Elmont, Englewood, Essex Falls, Far Hills, Far Rockaway, Farmingdale, Farmingville, Flemington, Floral Park, Floral Park Village, Florham Park, Flushing, Forest Hills, Fort Lauderdale, Fort Lee, Fort Myers (FL), Franklin Lakes, Franklin Square, Frederick, Freehold, Freeport, Fresh Meadows, Ft. Collins, Ft. 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