Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Disclaimer: Calculator results and default inputs are ...

Mark Jahn is a financial writer, editor, consultant, and award-winning economist covering ETFs, stocks, cryptocurrencies, options, and more. Somer G. Anderson is CPA, doctor of accounting, and an ...

A federal tax liability is an amount that’s owed to the government in taxes. It can include income taxes on earnings and capital gains taxes on assets. Both are based on brackets, a percentage of the ...