TurboTax TaxCaster Tax Calculator
For many taxpayers, the new year brings in many self promises that seem to quickly fade away in days or months. Better financial practices happen to be a popular promise that can only help, if you choose to follow through with it. Staying ahead of your year end tax bill can only be coined as good tax planning practices that can save you money.
Best of all, it's available as a Smartphone application that you can download and install on your iPhone, Driod, or Windows Phone, to use on the go.
This in turn will instigate better tax planning since you can make entries and changes on the fly when they happen.
TurboTax TaxCaster 2019 - 2020 Tax Tracking and Planning in the Palm of your Hand!
Stopped by the local good will and made a donation? Plug that information and value into the TurboTax TaxCaster App and see how it effects your tax liability for the upcoming year.
Thinking about buying a new home? changing jobs? getting married? All these things can make a substantial difference in how your annual tax bill is calculated, and in the final result.
Tracking Tax Breaks With TurboTax TaxCaster
Fact is, there are hundreds of opportunities to lower your tax bill including, home mortgage interest, charitable donations, retirement account investments, education and medical expenses, and so much more.
Factoring any of these tax break opportunities into your tax calculation will no doubt influence the final outcome.
How The TurboTax TaxCaster Tracks Life Changes
With every keystroke you make, the TurboTax TaxCaster is looking for entries that trigger a recalculation of your final tax bill. This is a great feature that allows tax filers to test different scenarios to see how if effects the final outcome.
Never before has it been so easy to discover more tax breaks that could apply to your tax preparation process, and in turn lower your tax bill.
As life moves forward, many opportunities in life dictate our decisions and in turn, our evolvement in life. Got some deeper feelings for the little lady in your life? Getting married not only changes your tax deductions, it will also change your tax filing status and the way you file. Now you can file as married filing jointly or married filing single. Different tax breaks benefit different tax filing statuses.
Take it step further, by having a baby and growing the family. Now here you will find many opportunities to lower your tax bill with credits and tax deductions that apply to dependants.
The TurboTax TaxCaster Tax Calculator is a super tax season tool that will help you make better sense of your tax planning future and insure you're taking advantage of every opportunity to lower you tax bill.
With tools like this, it's easy to see how good financial practices will allow you to keep more of your hard earned dollars.
How To Use The TurboTax TaxCaster Tax Estimator
Ok it's getting close to tax time again, how exciting right :( -- ok not so much!
Never-the-less, there are some tax tools that can ease those tax season tasks and get you heading in the right direction quickly.
TaxCaster is the TurboTax Tax Estimator tool which is available online, or as a smartphone app that you can download and use for the 2019 - 2020 tax filing season.
The TurboTax Tax Estimator allows taxpayers to enter their income along with deductions to calculate how much they owe in additional taxes, or how much they will receive for their federal tax refund from Uncle Sam.
The TurboTax Tax Estimator is for everyone! Use it even if you are not planning on using TurboTax products to prepare your tax return. TurboTax allows anyone to use this tool for free! It's a great tool that can be used all year round to keep in touch with your income tax payment obligations.
Using The TurboTax TaxCaster App
This tax estimator is extremely easy to use online or with the smartphone app, and it is very user friendly. It offers a couple ways to adjust your input figures that are easily accessible.
To start with, you can use the easy access slide-bars to make adjustments to your entries. If your like me and your fingers are too big to delicately get the right settings, then you can click the right side of the screen next to the slide-bar and type in the figures you need to enter.
This can be a lot quicker to make your entries this way since the slide-bars seem to be very sensitive and hard to make minor adjustments.
The 4 main catagories on the app include
- About You: where you enter your filing status, age, dependants, and child care expenses you paid during the year.
- Your Income: where you can enter your pay received and taxes that were withheld from your paychecks. There is also the ability to enter business income or additional income from interest, qualified dividends, short and long term capitol gains and losses, IRA or pension distributions, Social Security, alimony, and miscellaneous income as well.
The TurboTax TaxCaster Tax Estimator App is available for iPhones, Androids, and Windows based Smartphone's. So getting up to speed on your tax liabilities is easy no matter what smart phone device you have become adorned with.
One great feature to this tax calculator application is that while you are entering your data the tax debt tally is updated along the way.
There is a meter on the screen that is constantly calculating the information you enter to make adjustments to what your final total will be.
This calculation is ongoing throughout your data entry process and when your done, it will show you exactly how much you will receive for your tax refund, or how much you still owe the IRS.
This feature is a super nice tax planning feature that allows you to make variation adjustments to see how changes effect your final tax liability on your annual tax return. In turn, you can plan better for future tax returns based on the best outcome for deductions and investments that can help you lower your tax bill.
One such benefit may be seeing if changes in your tax situation may make more sense. Lets say that you are planning on filing for a standard deduction but you have your receipts and would like to know if itemizing might be a better option for lowering your tax bill or increasing your refund. That's worth checking out in my book, and it only takes a few seconds.
You could add up all your receipts and then make adjustments with using the standard deduction or itemized deduction to see which will work best financially for you.
Try the TurboTax TaxCaster Tax Estimator and see what a great tool it really is.