Tag Archives: Tax

Tax Refund Calculator for 2017

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It’s almost that time again – time to do your taxes. While some people put it off until the last minute, many want to at least try to gauge what they’ll owe or what their refund might be. Fortunately, you can get an idea of that data by using a tax refund calculator for 2017.

How it works is that it’s online and you simply enter your estimated data. Now while it can’t be entirely accurate down to the penny, you can get an idea of what is going on with your taxes so you don’t get surprised by an amount owed or if you are getting a refund, you can plan for the future.

If you’re like me, you’re impatient and want to know right away – regardless of the outcome. This is the perfect tool for those kind of people or simply those who may have an idea of what they might be expecting but simply want to be sure.

Best of all, it’s free to use so you can go ahead and get an idea of your tax refund or what you might owe, without having to pay.

Providing Good Customer Service to our Clients

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Working as an accountant for many years, I have seen so many questions come my way.  People come to me for advice on matters related to money, and they count on me to help them make decisions.  This means that I need to be educated on all sorts of topics, and it makes every day I come to work an interesting one.

During this time of year, I get a lot of questions about income taxes.  Many people are looking at ways to minimize their income tax bills and maximize their refunds.  At this time of year, there is still time left to put money in their IRAs, donate to charity, or take advantage of the many tax write-offs available to both personal and corporate tax clients.  I work together with my clients to save them the most money possible, and I think that they appreciate it.

This year, I have decided to take my customer service to the next level and I have been giving my clients dates as to when they will receive their refunds.  I am basing my advice on information found here: http://filemytaxesonline.org/projected-irs-tax-refund-schedule-dates/

This information has been invaluable to many of my customers, and those of them that base big purchases on their income tax refunds feel a lot better knowing when they will be receiving their money.  It is just one more thing that I can do to provide my customers with better customer service.

Use the Free 2017 Tax Calculator to Find Out Your Tax Refund This Year

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With tax season and the end of the year right around the corner many people are hesitant on spending money on Christmas. It could be that they are anticipating a large tax bill coming their way or other maybe simply underestimating what they will get in terms of a tax refund. If this sounds like you then don’t fret.
You can get a quick estimate on your tax refund in just a few clicks of the mouse or taps on the screen for those on a mobile device. Check out the 2017 tax refund calculator and you’ll get a good idea of the amount you’ll get back or if you’ll be paying this year. Although the calculator is only a guide and knowing the exact amount would take longer you can really get an idea of how much your tax refund is going to be.

 

The best part is that using the tax calculator is absolutely free. Just visit the free tax calculator for 2017 and enter some rough estimates and you could be having a much better Christmas. It’s also a great way to plan for upcoming tax payments that you may be required to pay. It will allow you to know beforehand what sort of payment you’ll be required to pay. This can also be a huge benefit if you’re worried about paying your taxes since it gives you a bit of warning before you do your taxes. Check out the tax calculator and know where you stand for your 2015 taxes.

Calculate Your Tax Refund

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Having problems calculating your tax refunds? It’s only normal that you do – the process is complicated to make it difficult for people to accurately get it done properly. Luckily for you, there’s a way in which you can calculate your tax refund automatically, with little to no room for error. All you have to do is visit the link above and check out all the details you need to know in order to get started with a piece of software that can accurately calculate your tax refund.

The 2017 Tax Refund Calculator

The tax refund calculator featured on the aforementioned webpage is absolutely free to use, no strings attached and no hidden fees. You can use it even before tax season comes, so you’ll be able to determine just how much money you’ll be getting back. Working in the US means you pay taxes – but in most cases, you end up overpaying. Luckily, you can apply for a tax refund in order to get your money back, and using the tax refund calculator is the best way to determine the approximate amount you’ll be getting at the end of tax season.

So don’t waste time with complicated procedures and lengthy calculations – calculate your tax refund the simple, free and easy way today!

Easy Online Tax Filing With TurboTax

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It will soon be time to file your income taxes and if you’re like most people you’re certainly dreading it. Sometimes it seems like there are so many forms and documents that need to be completed that it will take days to complete everything. However, I have recently tried the TurboTax online system and it is simply amazing! At first I had a few concerns because I’m certainly not a tax expert. Actually, I’m not a tax beginner either. I always had someone do my taxes for me mainly because I thought I might make a mistake. So I ended up trying the TurboTax system and all I can say is wow. It’s one of the easiest ways I have found to file your taxes.

Getting started in the TurboTax platform is super easy and it guides you every step of the way. What I really like about it is that it breaks down certain categories of your tax return. You’ll start by entering your main information then move onto income, then deductions. The entire process is streamlined to make it easy and understandable to file your taxes. It’s basically just a series of questions that you’ll need to answer. And the best part is they’re multiple choice. You can also see how things that you enter affect your return since it’s calculated ‘on the fly’ and presented through the entire process. If you’re looking for an easy online tax filing system then be sure to check out TurboTax to do your taxes this year.

Educational Tax Deductions and Credits

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The cost of education is always rising. However, if you are someone who wants to grow your knowledge base you will be happy to know that education tax deductions and credits can help education tax deduction credityou with the costs of your education.

One of the tax credits is the American Opportunity Credit and another is the Lifetime Learning Credit. These credits allow you to reduce your tax dollars, dollar for dollar when you claim educational expenses on your federal tax refund.

American Opportunity Credit

This credit allows you to reduce your taxes up to a maximum of $2,500 per student for the educational expenses endured for the first four years. However, students have to attend at least part time and not have been convicted of a felony drug crime.

Various things qualify for this tax credit such as books, equipment, supplies, tuition, and other school related fees. In the event that your taxes are less than $2,500, the refund cut off amount is $1,000. However, those who make more than $80,000 or couples who make more than $160,000 will receive a low credit amount. The phase out limit for the credit is $90,000 in income or $180,000 for couples.

Lifetime Learning Credit

You do not have to be actively pursuing a degree in order to claim this credit. This credit is for anyone who is taking a course to further his or her education. It covers required tuition, equipment, and books. It allows you to claim a maximum amount of $2,000 on each tax return however; if the amount granted is more than your tax bill, you will not receive a credit in the form of a refund.

Additionally, the phase out limit is $63,000 or $127,000 for couples. Those who make more than $53,000 or couples who make more than $107,000 will receive a lower credit amount.

Educational Tax Deduction

Tuition and fees deduction, student loan interest, work related education, scholarships and fellowships can allow you to ease some of your educational financial strains too.

Tuition and Fees Deduction

If you are unable to claim the Lifetime Learning Credit because of the phase out limit, you can claim the Tuition and Fees Deduction of up to $4,000. This is true even for taxpayers who do not itemize their tax returns. As long as you do not make more than $80,000 or $160,000 for couples you are eligible. However, you are unable to claim both a credit and a deduction simultaneously.

Student Loan Interest

Even if you do not itemize your deductions, you can deduct your student loan interest on your taxes. This deduction does not phase out until $2,500 per tax return. However, you must not exceed $60,000 in income or $125,000 if you are married. Furthermore, if you have cash in a US savings bonds to pay for your education the interest is tax-free as long as the cash is used for your education.

Work Related Education

If you are going back to school due to your job, you may be eligible to claim this itemized tax deduction. However, you have to prove that the education was to maintain or improve your work skills or a requirement from your employer. However, this deduction is not for those who have to do it to land a new career.

Scholarships and Fellowships

If you receive a scholarship or a stipend for a fellowship, it is tax-free if you use the funds for tuition, supplies, or other school related expenses. You do have to be a degree candidate though.

Posted by Frank Ellis
Examiner.com, Tax Preparation
Website, http://bestirstaxrefund.com/