TurboTax Federal Tax
2017 - 2018
Friend or foe, the IRS is a money grubbing entity that we all have
to deal with. Plus, if you don't cooperate, you'll be paying up in
penalties and interest charges. Not a fun thought!
your finances balanced is a task that requires some year round tax
planning that will help taxpayers stay informed on their federal tax
The best way to stay up on this tax planning task is to use a
federal tax calculator several times a year to insure your on target
with tax savings and payments.
A great tax season tool for the is the TurboTax TaxCaster Federal
Tax calculator. It's just what the doctor ordered for tax planning
tools to help you be more financially prepared for taxes.
TurboTax TaxCaster Federal Tax
When the IRS comes calling, it's important to be prepared to meet
their needs ASAP. This in turn will help you avoid federal tax
penalties and interest charges.
The TurboTax TaxCaster is a simple yet detailed tool that can help
you calculate your federal taxes, but also help you find deductions
that can help lower your overall tax bill.
Several features on the TurboTax federal tax calculator tool allow
taxpayers to enter tax deductions like medical, educational, and
charitable contribution deductions. Tax deductions like these along
with others will help lower your taxable income, which in turn will
inevitably lower your tax bill.
How To Use The TurboTax TaxCaster
The TurboTax TaxCaster is a fully guided tax calculation tool that
all taxpayers can use for free. It does not require you to be a
TurboTax customer. Plus, no personal identification information is
required to be entered. This allows tax filers to use it
anonymously, keeping their personal data private.
TaxCaster can be accessed and used online through the
TurboTax Website, or by
downloading the Smartphone app that you can use on the run, anytime
you need to make an adjustment to your income, expenses, or
To use this tax season tool you start by entering some pertinent
information about your life that will determine your tax filing
status, and some standard deductions. These questions include, your
marital status, age, and dependant children.
Then you'll move on to your income. This will include you wages and
salaries, along with unemployment income and business income ( for
self employed tax filers).
Other income to enter includes interest, qualified dividends,
capitol gains and losses, IRA and pension distributions, social
security benefits, alimony received and any other income you may
have had during the year.
Then you will enter your tax breaks and tax deductions like
education and medical expenses, home mortgage deductions, charitable
donations, retirement account contributions, and other deductions as
well as any taxes already paid for the year.
As you will see, the TurboTax TaxCaster Federal Tax Calculator will
continue to give you a running balance as you make, or change your
entries. It's a super tool to keep you informed on you federal tax
liabilities throughout the year.