How can you find an online tax calculator to estimate a tax refund?


Quick Answer

Matthew Guariglia for Heavy provides a list of some of the best tax calculators to help determine your tax refund. These include TurboTax TaxCaster, H&R Block Tax Estimator, TaxBrain Tax Estimator, TaxAct TaxCalculator and eSmartPaycheck.

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Full Answer

The TaxAct TaxCalculator allows a user to provide basic information regarding his filing status as single, married or head of household, according to the TaxAct website. A user can also provide the details of any dependents. Users can include information such as wages; business income and losses; tax payments and paycheck withholdings to date; interest income; and unemployment income. They can also detail less-common income sources including dividends; capital gains and losses; state tax refunds; taxable IRA payments and pensions; and Social Security benefits. TaxAct accommodates deduction information for student loan interest, medical expenses, mortgage interest and charitable donations. Before indicating a taxpayer's taxes and resulting refund, TaxAct considers credits for child care costs, energy-saving home improvements, college tuition and miscellaneous, manually calculated credits.

While the TurboTax, H&R Block and eSmartPaycheck sites provide simple estimation tools, the TaxBrain Tax Estimator accounts for more advanced, individualized tax situations on TaxBrain.com. The site can account for repayment of the 2008 first-time homebuyer credit, education credits for more than one person, real estate taxes and state taxes.

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