Estimate your refund

How do you determine your tax refund? How will you spend your refund? How to figure your tax refund? Just enter some basic information about yourself—and it’s fine to guesstimate. The information you enter is automatically saved so if you have any changes, you can easily make them in seconds to see how they affect your federal tax refund.

Typically, you receive a tax refund if you pay more tax during the year than you actually owe. This most commonly occurs if too much is withheld from your paychecks. Another scenario that could create a refund is if you receive a refundable tax credit that is larger than the amount you owe. In a nutshell, to estimate taxable income, we take gross income and subtract tax deductions. What’s left is taxable income.

Then we apply the appropriate tax bracket (based on income and filing status) to calculate tax liability. This tax calculator can also help you determine whether you’ve underpaid taxes for the year, and if so, how much you will owe the IRS on April th. For the current year you are allowed a deduction of 1percent of the amount of premiums to the extent you have self-employment income. If you prepared and e-filed your tax return on eFile. Estimate your Tax Refund today!

Treasury Offset Program (TOP) via the IRS tax return processing procedure, not eFile. The next portion of your income is taxed at the next tax bracket of percent. That continues for each tax bracket up to the top of your taxable income. Find yours with our helpful tax bracket calculator. Most income is taxable, whether you earn it or are paid as a return on your investment.

Subtract the amount you owe in state tax from the total amount that you paid to your state. The resulting difference is the amount of your refund. Please note that this calculator makes a ballpark estimate. If you need exact numbers or have a complicated tax situation this might not be for you.

Prevent new tax liens from being imposed on you. Meeting your long-term investment goal is dependent on a number of factors. Calculate your earnings and more.

This not only includes your investment capital and rate of return , but inflation. Use this calculator to estimate your self-employment taxes. Normally these taxes are withheld by your employer. However, if you are self-employe operate a farm or are a church employee you may owe self-employment taxes. Those who electronically file can check after just hours to get their.

Your cost basis is $012. For example, if you calculate that you have tax liability of $0(based on your taxable income and your tax bracket) and you are eligible for a tax credit of $2that would reduce your liability to $800. Tax credits are only awarded in certain circumstances, however.

You would only owe $800.