You have gotten taxes out of the way for the 2015 tax season. However, if you want to be a financially conscious citizen you should already be preparing for the 2016 tax filing season.
If you are expecting a refund, you probably want to know just how much of a refund you can expect.
Having a real life number will allow you to plan the remainder of your year correctly. However, coming up with an accurate estimation is not always easy. Therefore, this article will discuss two websites that help calculate estimated taxes and refunds.
H & R Block Online
H & R Block has been helping American’s with their taxes since 1955, when their first office opened. They were offering high interest loans based on someone’s estimated tax refund.
Now that those programs have been discontinued, they still make it their business to help you know what amount you should expect in your tax refund. Unlike the
IRS refund calculator, H & R Block has an easy to use refund calculator.
TurboTax has one of the most popular refund calculators because it is very user friendly and it is attractive. The graphics and sliders make understanding taxes very easy and it updates your estimate as you add in information.
Keep in mind you will have to estimate your withholdings so the estimate provided will not be 100% accurate. However, if your salary is the same as last year, your estimation should not be too far off.
Estimating your refund does not have to be hard, thanks to these two websites. You can plan and make sure that you spend your refund wisely when it arrives. Lastly, keep in mind the child tax credits . earned income credits . and federal income tax brackets change yearly, therefore, you could be getting an even larger tax refund when the new laws go into place.