Perhaps you want to know how much your tax refund will be, or maybe how much money you might owe come tax time. If you want to find out, the fastest way to do it is by using an online income tax refund calculator.
Technology has become embedded in our most official functions as a society, almost without our noticing how or when. All the way from the top of society on down to even homeless people with laptops. (Which does not mean they're faking anything, or entirely to blame). The internet has become a hub for self-motivated money makers, political dissent and even organized protest and revolution, and even federal and state taxes.
The tax refund estimator used to only be available on through a computer with access to TurboTax, but now the tax calculators can be used on your iphone.
The tax return calculator on the website is under the "tax calculators and tips", and is divided up into three separate tax estimators.
The main refund estimator is called the "tax caster". You'll be required to enter some personal information, though it won't be anything incriminating like facebook. Plus their website and network are among the most secure, involving timed sessions and other strict security measures to insure that your information won't become vulnerable. So, to use the tax return calculator aka the "tax caster", you'll need to enter in your marital status, your age, main income, other income, business income, information about your house, donations, retirement funds, your education and family information. There's a real-time gauge on the screen which will show you in about ten or fifteen minutes how much you stand you get.
Of course with TurboTax package you can start filing for free. You won't have to pay anything at all until the very last page of the process when you click "file and send", thus gaining a free look at how the tax refund estimator plans on treating your finances. However, the TurboTax "business" package must be purchased right off the bat, as it is a premium and comprehensive package and only appropriate for some.
Now, the "life events advisor" is a tax refund estimator that will take into account changes in your life such as your marital status, a new baby, a new type of job, new house situation, and other situations that are new for you and your family.
Then there's the IRA calculator. You'll have to enter in your earnings and contributions and the other standard info, and like the previous two estimators, you'll be given a figure to go off of in about ten or fifteen minutes.
In addition to their tax refund estimators, TurboTax offers five distinct packages which are each composed of various tools that apply to different people for their personal and unique tax situations.
There's the Free Edition of TurboTax which is for simple tax refunds or even for those young people filing for the first time. This will not include itemizing or things like medical and business expenses.
The Deluxe Edition will import your personal information from the previous year (if you've used TurboTax before) and will cover situations like medical expenses, business expenses and deductions.
The Premiere Edition will cover even more income tax situations such as investments and real estate, stocks and bonds, even rental properties.
TurboTax Home and Business will be appropriate for those who are a sole proprietor, consultants, contractors, home owners or even single owner LLCs.
As mentioned before, TurboTax Business is for corporations.
Now, you can start with any of these programs for free (besides the business package) and the process will be working like a Tax Refund Calculator. As you are asked questions and fill out information the real-time gauge will always be there, showing you exactly how your situation will dictate money owed or money due back to you.
You won't have to pay anything for any of the packages until the very end of the process. TurboTax boasts about the free accessibility of it's tax refund calculators because of their biggest tax return guarantee. Which means exactly what the explicit statement implies, that they will get you the most money back, find you the most deductions and credits, or you get your money back.
Along with this promise you also get the 100% accuracy guarantee. With the accuracy guarantee comes the audit support defense free of charge. Though the chances are extremely low of having one, as they are usually instigated because of simple mistakes on paper copy returns, you offered full and live support by an expert.
Remember, using an online tax return calculator will be more efficient and cheaper than walking into the offices of a tax professional who won't have the ability to estimate anyone's tax refund. You can now file and estimate your tax return in a moving vehicle on your phone.
You won't be sacrificing personal support by going the online route. Beyond tax refund estimators, TurboTax also has a few different options for receiving help.
You can post your question in regards to any tax situation for the "live community" forum which is composed of real life tax experts and regular people who have filed with turbo tax or experienced the same troubles as you in the past.
You can also reach live support through the telephone. Then there's chatting with TurboTax using a live chat service. (think: msn messenger or facebook chat). Or, you can simply browse through their award winning library of tax articles by searching for the tax topic of your choice.
So you can start by checking out the free tax refund calculator and then go on from there to utilize one of the many free-access resources on the website to streamline your tax return filing experience.
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