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Tax Calculator: Estimate Your Income Tax Return for Free

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2022-01-07 18:23:51 • Filed to: PDF Form Solutions • Proven solutions

Estimating your tax return is a very important exercise for taxpayers in the United States. As a taxpayer, you will need to know if you have overpaid your taxes to the government and need a refund or if you have underpaid and owe the government. This is the actual importance of a tax calculator. It helps you determine your status by doing the calculations with the information you provide. There are many income tax calculators available for use. However, this article is going to look at these top tax calculator 2017 to help you accurately estimate your tax return.

Tax Calculators to Estimate Your Tax Return

1. TaxSlayer Tax Refund Calculator

The Tax Slayer tax return calculator can be accessed when you go online. You can use it to estimate your task refund very easily with just a few steps. It will require you to enter certain basic information like your age, marital status, filing status, and a whole lot of questions bothering on your eligibility. After providing the basic information, it will require you to also provide information on family, income, deductions, and credits. The essence of this information is to enable TaxSlayer to compute your tax refund correctly. When the calculations are complete, you can see the estimation at the top right of the online page, and you can print afterward. It is simple and easy to use. You do not require any sophisticated computer knowledge to use it. All you need to do is to supply the necessary information and click buttons.

tax return calculator

Pros:

  • Simple and straightforward tax calculator.
  • Apps are available on Android and iOS devices.

Cons:

  • It is only for estimation purposes only.

2. Calcxml Online Calculator

If you have withheld enough tax in the past year and will like to determine whether you still owe the Internal revenue Service or you are qualified for a tax refund, then use Calcxml as your tax return calculator. The Calcxml online tax calculator is simple and easy to use. You will be expected to supply your income and task information like the tax filing status, gross annual income, number of dependent children, number of personnel exemptions, among others. When the information is supplied, all you need is to click on the submit button, and your tax return estimate will be calculated and shown.

tax calculator 2017

Pros:

  • It is simple and easy to use.
  • It includes trust in the tax filing status.

Cons:

  • The website is not well designed as the interface looks disorganized.

3. TaxToday Online Calculator

TaxToday is an income tax calculator that will help you estimate how big your refund will be or how much you owe the government. It is an up to date free tax refund calculator which applies to the last financial year that has ended. That means you can be able to file for your current tax return that is due. However, it is important to note that TaxToday calculations are just an estimate like some other online tax refund calculators but have some high level of accuracy because it calculates the same way as the ATO works out your refund. TaxToday tax calculator will request for some information like the gross employment income, fringe benefits, and others.

tax return estimator

Pros:

  • Although it is just an estimate, the calculations are close to exact.
  • Easy and simple to use.

Cons:

  • Not widely used by people.

4. TurboTax Online Calculator

This online calculator is a user-friendly tax return calculator. No wonder it is one of the most popular tools among tax calculators. Estimating your tax returns with TurboTax is not complex. All that is required is to supply some basic information, and the TurboTax online calculator calculates and gives you the estimate. The program is a good tax calculator tool because it even allows you to include other sources of income apart from your primary source as well as put into consideration retirement, education, and charitable donations when doing a final estimate.

income tax calculator

Pros:

  • Using the TurboTax Online calculator only takes a few minutes to produce results.
  • It is free and easy to use.
  • It does not require you to install any software.

Cons:

  • The interface is not well designed.

5. H&R Block Online Calculator

The H&R Block has been in existence since 1955, helping a whole lot of Americans with their taxes, although they started off with offering high-interest loans based on an estimated tax refund. However, they have now become a household name in tax return calculations. What you need to do is to visit their website and use their tax refund calculator. It is important to note that the H&R Block online tax calculator is equipped with the latest Internal Revenue Service figures making it up to date for tax refund estimations.

tax calculator

Pros:

  • The level of accuracy in their calculations is high. Any estimation you get is sure going to be very close to the real figures as they are up to date in IRS tax figures.
  • It is simple to use.

Cons:

  • It is the only web-based with no mobile apps.

Warnings for Using Online Tax Calculating Service

  • It is important to understand that these free tax calculators are just estimates. The amount of refund you get or the amount of money you owe may vary depending on the variety of different factors when you complete your tax return.
  • Note that to find the total gross income and withholding amounts can be found when you add up the amount in your pay stub.
  • You can use more than one tax calculator to verify your refund or the amount you owe. However, ensure that you supply the same information to each of these tax return estimators.

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Margarete Cotty

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