Income Tax Refund Estimate
Many taxpayers are anxious this year about their finances and would like to estimate their tax refund in advance. The tax refund estimator by TurboTax is a very useful tool for predicting the amount your upcoming tax refund amount.
Getting an Income Tax Refund Estimate
You don’t have to be a computer wizard to understand and use the tax calculator. It really is very easy to use and understand. You will however, need to have your paperwork in order to enter income data, filing status, and dependents.
What You Will Need to Know
1. Filing Status (Married filing jointly, Married filing separately, Single, Head of Household)
2. How Many Dependents Will You Claim?
3. What is Your Adjusted Gross Income?
4. Deductions and Credits You Can Claim
This is basic information you will enter into the tax estimator. If you conduct a search on the Internet you will find a lot of tax calculators that will estimate your income tax refund.
It would be a wise decision to choose a company who has a trusted reputation. You do not want to enter personal information (Social Security Number) if you’re only looking for a rough estimate from the use of the tax calculator tool. If any company asks for private information just to use the calculator then, I would find another company.
Accuracy Will Give You the Closest Refund Estimate
If you want your income tax refund estimate to be as accurate as possible, you will need to enter wage information from your W-2 form. Filing status and dependent information can be obtained from last year’s tax return. If you have to enter in approximate amounts because you don’t have the actual information, then make your estimate as close as possible.
More Than One Tax Refund Estimate
If you try several different tax calculators you might be surprised to receive several different estimates. This is normal because every company has little differences that make for varied calculations.
Hopefully the tax estimates won’t have a wide range of final numbers. Although many taxpayers use the tax estimator, there are many other services available to help with the preparing and filing of your tax return, especially if you have a more complicated return.
Income Tax Return Preparation and Filing Help
If you would like to estimate your income tax return or need help with preparing and filing your return, TurboTax Online can be your one stop resource. Everything you will possibly need is provided to make the preparation and filing of your personal tax return simple and easy.
If you would like to learn more about how to get the biggest refund possible, visit TurboTax Online Today!