TurboTax TaxCaster Income Tax Calculator 2018 - 2019
This is also offered for download as a smart phone app for iphone and androids that you can use on the go.
This calculator is called the TurboTax TaxCaster.
You can use it to calculate the amount or income tax you may owe, or what your federal tax refund will be from the Internal revenue Service (IRS).
It also doubles as a great financial planner you can used all year round!
Review: How to Use the TurboTax TaxCaster Smartphone Tax Calculator Application
In our review we discover how simple it is to use this great calculator tool offered by TurboTax. This app is FREE to download by clicking the TurboTax TaxCaster graphic above and selecting the Google play or iTunes buttons to download from your preferred location.
This app is truly one of the best tax planning tools that I have ever used. It is incredibly easy to use and saves your data so that you can go back at anytime and make adjustment. Why is that good? Well, say you suddenly sell your home, get a new job with a better salary, or make a charitable donation, all these things will effect your income taxes. Being able to go back and make small adjustments here or there is convenient and time saving, plus it keeps you in tune with your income tax obligations.
So here we are, lets get started so I can show you the simplicity of this application.
You start by entering you personal information and I don't mean identification information, everything that this app requires will not identify who you are, just your tax filing circumstances. This will include basic "About You" information like, are you married? or head of household?, what is your age?, are you a dependant or are you claiming any dependants?, do you have children?
Next you will move on to the area where you input "Your Income" including wages or unemployment as well as your federal and state taxes withheld using slide bars to indicate the proper amounts. If you own your own business there is a separate area here where you will use another slide bare to indicate what your "business income" is.
I found these slide bars to be easy to use on everything except the income bar where it was very hard to get exactly the right thousand dollar number due to the fact that this bar covers a very large income range. However, I did find that if you tap on the right side of the bar by the arrow, you can then type in your exact income amount. In fact, every one of the slide bars operates this way to enter exact amounts.
The other section in this income area is "Other Income" that includes other income sources that you may have received throughout the year including: Short and Long Term Capitol Gains and Losses, Interest, Social Security Benefits, Qualified Dividends, IRA or Pension Distributions, Alimony and other sources of income. As you scroll down through this area you can adjust slide bars to select proper values.
Now you can start to see how easy it is to use this app. You can even start to understand where you may be able to make adjustments that can lower your tax bill like making a tax free IRA contribution to lower your taxable income.
Benefit to using this TurboTax TaxCaster app are endless. It allows you to track your income tax liability throughout the year to ensure your paying enough in so that you don't get stuck with a huge year end tax bill, or worse, penalty and interest charges for not paying enough into the IRS.
The TaxCaster TurboTax Tax Calculator helps you determine the correct amount you should have withheld from your paychecks, or proper quarterly tax payment amounts.
Once you move on to "Your Tax Breaks" page you will see how there are many areas where you can make adjustments to lower taxable income. Some of these come naturally as a lot of tax filers own their own home, but there are some you need to make decisions on as retirement investments or charitable donations. They all influence your income.
Deductions from Educational Expenses, "IRA Retirement Contributions", Home Real Estate Taxes and Mortgage Interest Paid, Charitable Contributions and Donations, they all add up.
Witrh completion of the tax breaks you move on through the TurboTax TaxCaster to get your "Final Result" of what you may owe Uncle Sam, or better yet, what he may owe you!
TaxCaster comes in handy for determining what adjustments you may need to make to your W-4 withholding during the year to control year end tax debt.
April 15th can be a real shocker if you didn't plan you tax payments properly. The TurboTax TaxCaster can help you avoid paying in too much and giving the government a. interest free loan, or it can help you avoid penalties from not paying in enough.
Our Review Gives The TurboTax TaxCaster an A+ for Tax Tools.
Our review indicates that this is a great tax planning tool that is very useful all year long. Being able to make adjustments throughout the year and always knowing what to expect as your income and investments change will keep you organized and prepared for what's to come. Better to be prepared than surprised by Uncle Samuel...
We recommend that everyone give this TurboTax TaxCaster App a run and see how well it fits into your everyday personal financial organization tools. It will no doubt be a great tool to keep you more informed all year long and help you stay prepared to meet any financial obligation that is to come at year end with the Internal Revenue Service. Download it Now! - Giddyup!!!