You can use a tax calculator to determine how much you will owe the IRS or how much your tax refund will be. There are various tax calculator apps available to ensure that you know how much you need to pay or what you can expect.
Many users are already planning for the upcoming tax year. It may be because they want to take a vacation or make a big purchase. Regardless of the reason why you need to estimate your 2017 tax refund, know that apps are available that can easily be utilized.
Using Tax Calculators to Estimate Your Refund
Never be tricked into paying for a “good income tax calculator”. If big names such as TurboTax calculator and H & R Block calculator can offer their tax calculators free, it means that any other brand is just trying to swindle you out of money.
Also, keep in mind that a tax calculator should never require you to enter your social security number. However, they will ask for your W-2 form income, withholding amount, filing status, credits, deductions, and other non-identifying information.
Additionally, if you have a complex tax return, a tax calculator probably won’t do you much good but since the credible ones are free to use there is no harm in trying to get some type of idea about how much you will owe or receive.
When selecting your tax calculator make sure you go with one that has availability for online usage as well as an app. These calculators tend to be safer and it takes no more than 10 minutes to receive an estimate. Lastly, when using the calculator try to have your previous year’s tax documents on hand.
Why Use a Tax Refund Calculator
A tax refund calculator allows you to estimate how much your tax refund is going to be before you even file your taxes. Many allow you to enter specific information such as charitable donations, student loan interest, medical expenses, and more to ensure that the estimate is as close to accurate as possible.
If you have a complicated return, you can still use a calculator to get an estimate yet it is going to take you more than ten minutes to do so. Overall, we recommend going with an established tax calculator to ensure that your information is private and the calculations are as close to accurate as possible.