Turbotax Online does more than just prepare and file your taxes. It offers advanced tools to help you pay the least amount of tax possible. It also provides an extremely accurate tax return to file with the Internal Revenue Service (IRS).
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These important tools can help you pay the least tax possible.
Tax Return, Refund Calculator, Estimator - Use this handy tool to figure out how much of a tax refund you can expect to get back. Just enter your information as prompted, and the tax return calculator will quickly complete your tax refund estimate.
W-4 Calculator - TurboTax has a new w-4 calculator available in their tax calculators and tips section of their website. See how many withholding allowances you should take to boost your tax refund—or your take-home pay.
W-2 Online - The import feature found in TurboTax securely retrieves W-2, 1099, and 1098 data from hundreds of participating employers and financial institutions, saving time and data entry errors. Depending on the availability of these documents from your financial institution and employer, this feature will make your w-2 accessible in TurboTax on January 1.
Home Mortgage Calculator - Just enter the amount of interest you paid for the year and the mortgage calculator will show you your tax savings. Be sure to add in any points you might have paid.
The Deduction Maximizer - Turbotax Online, has a built in tax deduction maximizer. As with the tax return calculator, you just enter your information and the tax deduction maximizer will determine what deductions you should take.
Home Loan Tax Saver - If you paid interest or points on a home loan, chances are you can deduct those payments from your income taxes. This tax calculator can help you find out how much your mortgage will save you on your taxes.
Tax Rate Calculator - Want to know the average tax rate you'll pay on your income? Plug in your income figures and this handy tax calculator will show what percentage of your income will go to taxes.
Paycheck Withholding Calculator - Are you withholding enough—or too much—from your paychecks? This valuable tool looks at your entire tax situation, including your other income and expenses, and figures out what you'll actually owe on your taxes for the year. The calculator then determines how much you should have withheld to cover what you'll owe for the year, without giving Uncle Sam a big loan.
Tax Articles and Tips - Common, and not so common tax questions are answered in the tips and articles section of the tax program. If you want to learn about tax deductions, self-employment, child tax credit, medical expenses, mortgage interest, and a multitude of other tax subjects it's there to help you.
Let's face it not many people enjoy doing their taxes. However, tax software designers are working to make tax preparation and filing software, as hassle-free and money-saving as possible. Having a set of useful tax tools on hand can make the job of (doing your taxes) a little easier and oftentimes, profitable!
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