2011 Tax Return Estimator

Now that 2011 has come to an end and 2012 is here, it’s time to start thinking about preparing your tax return and looking into a tax return estimator. Are you anxious to know if you will be required to pay income tax this year? Don't you want to know whether or not you’ll receive a refund and if so, how much you’ll receive?

Don't be surprised by your taxes. Being prepared for your tax return at the end of the year may help you make important financial decisions. I would recommend using a 2012 tax return estimator throughout this next tax year. You will then be prepared for tax time, knowing approximately how much you’ll owe or how much you’ll be receiving as a refund.

For example, before you make an important decision on how to finance larger purchases (e.g., car or home purchases, home mortgage refinancing, student loan applications, etc.), use a 2012 tax return estimator. The tax calculator is based on the IRS 1040, 1040A, and 1040EZ federal income tax forms, making it applicable to you regardless of which form you are going to file.

The tax return estimator requires you to enter your actual or estimated income, dependent, deduction, and tax credit information. The estimator will not ask you for your social security number; it is based on general information.

As soon as you have entered the most important tax information, the tax estimator will provide you with a tax estimate.

I would recommend trying the tax return estimator at TurboTax Online. TurboTax does not store any information in the estimate and does not ask any personal information. TurboTax also offers customer support. If you have a question, someone is always available to answer it. They offer several editions to meet your personal needs when it comes to filing your tax return with the IRS.

To try the 2012 Tax return estimator, visit TurboTax Online today.