You can’t know for sure what your federal taxes will be or if you are entitled to a refund, without actually filing your taxes. But if you are looking for a estimate here are a few calculators that may help.
1040.com , HRBlock.com , Turbotax.intuit.com – These, and several other web sites walk you through some basic information and encourage you to file your federal tax through them. You don’t have to file this way, but for an estimate they need information and they figure once you have given them it you might as well use their service to file.
You can do a web search, ‘Best tax calculators,’ and you will be directed to these and several more sites that offer similar services.
TaxBrain.com – Has the simplest calculator that I found. No strings attached, just put in your numbers and it very quickly gives you the estimated information based on that data. It was quick and easy.
If you are receiving a tax refund, you might want to rethink your withholdings so that more of your money is in your regular pay check. After all, that is your money that the IRS is holding at zero interest. It might be more beneficial in your pocket.
Marion Syversen, MBA
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