Tax refund Estimator - Tax Return Estimator - How to Use it

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Would you like to do a quick assessment of your taxes before tackling the real thing? By entering some basic information with regard to your earnings, filing status, and deductions you can get a quick assessment of your Federal tax repayment or number you owe Uncle Sam.

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The Turbotax online website has a tax return estimator that you can use for free. Use this handy planning tool to outline out how much of a tax repayment you'll get or how much you'll owe.

How to use the tax estimator - Just enter this basic info

You and your family This is where you enter your filing status. Single, married filing jointly, married filing separately, or head of household. number of dependents are also entered here. Earnings and income Money you earned from wages, self-employment and investments are entered into the tax repayment estimator here. Deductions and personal expenses Enter your amounts into these pre-set categories: medical expenses, real estate and personal asset taxes, home mortgage interest and points, home equity loan interest, charitable contributions, alimony you paid, child care expenses, and other miscellaneous deductions. Withholding taxes Enter the number of your Federal income tax withheld, and State income tax withheld.After entering your information the tax estimator will give you a overview of your tax situation. This overview will give you a good idea of your tax repayment number or taxes you owe. After you've used the tax repayment estimator you'll also get a list of tax tips for your situation.

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