Tax-Adjusted Debt Eliminator

Prioritize debts by Effective Interest Rate. Calculates deduction limits automatically.

How to Use & Disclaimer

1. Set Your Budget: Enter the extra amount you can pay monthly on top of your minimums.

2. Tax Details: Input your marginal tax rate and deduction cap to allow the tool to calculate the Effective Interest Rate of tax-deductible loans.

3. Add Debts: List all your debts. Select "Student Loan" or "Mortgage" to apply tax-adjustment logic.

Privacy Note: All calculations are performed directly in your browser. None of the data you enter is sent to our servers or stored.

Key Definitions

  • Monthly Extra Budget: Money available after paying all minimums and living expenses.
    (Income - Expenses - Minimum Monthly Payments)
  • Marginal Tax Rate: Your combined Federal + State top tax bracket. Used to calculate tax deduction savings.
  • Deduction Caps:
    • Student Loan Cap: Max deductible interest (IRS limit ~$2,500).
    • Mortgage Cap: Max principal eligible for deduction (IRS limit ~$750k for new loans).
Disclaimer: This tool is provided for educational and informational purposes only and does not constitute professional financial, tax, or legal advice. Results are estimates based on the information provided. Please consult with a qualified financial advisor or tax professional before making significant financial decisions.
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Debt Name Balance APR Min Pay Type Delete
Note: Calculations are estimates based on provided data. Rates are effective and assume a combined federal/state marginal tax rate.