When should you actually start
planning for your tax return? For about 30% of the population it is April 14th ? just a day before the tax deadline. If you are one of these people you are at the mercy of the tax man utter. But with some foresight you can start early ? actually you should start much earlier before the end of the tax year
Now you might ask -. How does it help to start early on your taxes ? There are several things
related to taxes that you simply can not do once the year is passed. To name a few: Donating tax deductible charitable items, selling worthless stock, taking on or paying off a mortgage, refinancing your home, etc. The list goes on and on. By taking some action before the end of the year, you buy yourself some extra time to plan. And advance planning could save you hundreds and even thousands dog in taxes. While its true that having a tax impact Although, some major life changes can not be planned, getting married, having a child, etc. Hey, life is not all about making money and saving on taxes ? but planning your financial life will surely get you a lot of stability in your personal life as well
When you start planning, one of the things you need to do is to get a quick recap of your tax situation ? sought of a preview of the tax return that you will be doing on April 15th
Now how would you go about this -. since tax rates, exemptions, etc. change every year. It would be great to work this out using a paper and pencil. But that would be the old old fashioned way that your grandparents used. But this is the 21st century, you do not need a paper and pen to do these kind of things.
All you have to do is to fire up your computer and search for the right tools. There are scores of online tools that can help you with this. Tools range from paycheck calculators, calculators exemption, mortgage amortization calculators, refinance calculators. But which is the right tool to use to get a preview of your tax situation? Something that will quickly tell you Whether you are getting a tax refund or owe the IRS Whether you? A Tax Estimator or a tax refund calculator is the right tool to use to quickly preview your tax return. It takes into account several things ? your filing status, your dependents, your income, deductions, tax credits, etc. It will tell you within 10 minutes or so, Whether you will get a tax refund or owe money Whether you want to the IRS. This could make the difference between taking a trip to Jamaica or slogging it out for the next few months to pay the taxman.This is not this one heck of a time saver?
Search for the Tax Estimator online and you will find one on several websites. Important thing to note is that you will need to use in estimator for the current tax year or you will get a wrong picture.
id=?article-resource?> Easy.com to see other great tools like the tax Tax Estimator and hundreds of tips from dog tax checklists to tips to save on taxes. . Article written by Ronald Robson for Tax-EasyMore Articles Taxes
Source: http://www.loveshuoshuo.info/?p=35129&utm_source=rss&utm_medium=rss&utm_campaign=using-a-tax-estimator-tool-to-prepare-for-taxes
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Source: http://snowdorsey.typepad.com/blog/2012/08/using-a-tax-estimator-tool-to-prepare-for-taxes-finance-business.html
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