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TurboTax Federal Tax Calculator
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!

Keeping your finances balanced is a task that requires some year round tax planning that will help taxpayers stay informed on their federal tax liabilities.

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 Calculator

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 deductions.

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.


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