Calculate Taxes, TurboTax
As the days tick forward, and 2018 comes fully into
focus, we though this would be a good time to update all
you tax payers on the latest version of the TurboTax
TaxCaster income tax calculator application.
Lets face it, Uncle Sam isn't getting any friendlier
with our tax rates, yet? but the TurboTax TaxCaster tax
time tool is as easy as it ever was to use. Frankly, I
wish a lot of things in my life were as simple to use as
this TurboTax tax estimation tool happens to be.
With another tax season on the horizon, it's that time
again to start thinking about what income tax
obligations you may be facing. This tool can help you
get more prepared, and financially ready to tackle whatever
tax bill may be popping up this tax season.
As we look back to previous years, one big pleasing
factor about the TaxCaster tool is that you still do NOT
have to provide any personal identification information
to use this application. Therefore, no worries about
some of your personal identification information getting
out there into the cyber world through this app. Use the
TurboTax calculator anonymously anytime, or all the time
throughout the year to keep in touch with your income
How To Use: TurboTax
TaxCaster Tax Calculator
TurboTax TaxCaster can be used online, or through a
downloadable app for free, regardless of whether you are
a TurboTax customer or not.
As a universal tool for calculating taxes, TaxCaster
takes most factors into account to ensure relative
accuracy when determining what kind of finacial
responsibility you many have with the IRS.
Many factors come in to play when you're trying to
reduce what you may owe on your tax bill. Some of the
more important ones are to:
Tax deductions offer many opportunities to lower your
tax bill, which could increase any tax refund you may be
eligible to receive from the Internal Revenue Service
(IRS). Information gained can help you determine your
local and state income tax liability as well. You can
calculate income taxes anytime throughout the year.
The TurboTax TaxCaster takes over 305 tax deductions
into consideration as it searches for what will apply to
your tax filing situation.
most common tax deductions include:
Home Mortgage Interest
Paid On Your Home Residence
Charitable Tax Donations
State and Local /
Municipal Income Taxes Paid
Real Estate Taxes Paid
Medical and Educational
Most missed and overlooked deductions include:
State sales taxes
Child care credit
Moving expenses for first
Education expenses paid
Earned income tax
Jury pay paid to
State taxes paid in
Another area where the TurboTax TaxCaster
comes to life to help you save is with tax exemptions.
There are several tax exemptions that are quite common
and help to lower your federal tax bill.
Net Income Calculation
The TaxCaster calculates your net taxable income by
taking your total income, then subtracting your tax
deductions and exemptions. Once this step is completed,
it will come up with your tax amount due, or tax refund
amount. It does this by subtracting any tax credits and
withholding or quarterly payments already paid
toward your tax bill.
and AMT Tax Calculations
TaxCaster also helps you determine whether or not the
Alternative Minimum Tax (AMT) should be applied to you.
This can be a big factor in your tax bill.
The AMT tax is imposed on individuals, corporations,
estates, and trusts at a nearly flat rate based on an
adjusted amount of taxable income above a certain
threshold (also known as exemption). Regular taxable
income is adjusted on items that are computed
differently for AMT, such as depreciation and medical
Smart Phone App
The great benefit to using this TaxCaster TurboTax
tax calculator is that it is available for use online at
anytime, or you can
download the TurboTax TaxCaster App for your smart phone
and use it on the run.
Either way I have to say that after using this tool
on both my iphone and online, the
TurboTax TaxCaster is a great tool for supplying you
with several important tax factors including: your total
income, your net taxable income, your marginal tax rate,
and how much you owe, or how big your refund will be.
What more do you need? try it today!