Users Guides: TurboTax Tax Calculators and Apps

Calculate Income Taxes, TurboTax Calculators and Tax Apps

TurboTax 2018 - 2019 TaxCaster Tax Calculator

As the days tick forward, and 2019 comes fully into focus, we though this would be a good time to update all you tax payers on the latest version of the TurboTax TaxCaster income tax calculator application.

Lets face it, Uncle Sam isn't getting any friendlier with our tax rates, yet? but the TurboTax TaxCaster tax time tool is as easy as it ever was to use.

Frankly, I wish a lot of things in my life were as simple to use as this TurboTax tax estimation tool happens to be.

With another tax season on the horizon, it's that time again to start thinking about what income tax obligations you may be facing.

This tool can help you get more prepared, and financially ready to tackle whatever tax bill may be popping up this tax season.

As we look back to previous years, one big pleasing factor about the TaxCaster tool is that you still do NOT have to provide any personal identification information to use this application.

Therefore, no worries about some of your personal identification information getting out there into the cyber world through this app.

Use the TurboTax calculator anonymously anytime, or all the time throughout the year to keep in touch with your income tax liabilities.

How To Use: TurboTax TaxCaster Tax Calculator

TurboTax TaxCaster can be used online, or through a downloadable app for free, regardless of whether you are a TurboTax customer or not.

As a universal tool for calculating taxes, TaxCaster takes most factors into account to ensure relative accuracy when determining what kind of finacial responsibility you many have with the IRS.

Many factors come in to play when you're trying to reduce what you may owe on your tax bill. Some of the more important ones are to:

Calculate Tax Deductions

Tax deductions offer many opportunities to lower your tax bill, which could increase any tax refund you may be eligible to receive from the Internal Revenue Service (IRS). Information gained can help you determine your local and state income tax liability as well. You can calculate income taxes anytime throughout the year.

The TurboTax TaxCaster takes over 305 tax deductions into consideration as it searches for what will apply to your tax filing situation.

The most common tax deductions  include:

  • Home Mortgage Interest Paid On Your Home Residence
  • Charitable Tax Donations
  • State and Local / Municipal Income Taxes Paid
  • Real Estate Taxes Paid
  • Medical and Educational Expenses Paid

Most missed and overlooked deductions include:

  • Out-of-pocket charitable contributions
  • Reinvested Dividends
  • State sales taxes
  • Child care credit
  • Moving expenses for first job
  • Education expenses paid  by parents
  • Earned income tax  credit EITC
  • Mortgage Refinancing Points
  • Jury pay paid to employers
  • State taxes paid in spring

Calculate Tax Exemptions

Another area where the TurboTax TaxCaster comes to life to help you save is with tax exemptions. There are several tax exemptions that are quite common and help to lower your federal tax bill.

  • Personal Exemption
  • Dependant Exemptions
  • Local City, County, or State Exemptions

TurboTax TaxCaster Net Income Calculation

The TaxCaster calculates your net taxable income by taking your total income, then subtracting your tax deductions and exemptions. Once this step is completed, it will come up with your tax amount due, or tax refund amount. It does this by subtracting any tax credits and paycheck withholding or quarterly payments already paid toward your tax bill.

TurboTax TaxCaster and AMT Tax Calculations

TaxCaster also helps you determine whether or not the Alternative Minimum Tax (AMT) should be applied to you. This can be a big factor in your tax bill.

The AMT tax is imposed on individuals, corporations, estates, and trusts at a nearly flat rate based on an adjusted amount of taxable income above a certain threshold (also known as exemption). Regular taxable income is adjusted on items that are computed differently for AMT, such as depreciation and medical expenses.

TurboTax TaxCaster Smart Phone App

The great benefit to using this TaxCaster TurboTax tax calculator is that it is available for use online at anytime, or you can download the TurboTax TaxCaster App for your smart phone or iphone and use it on the run.

Either way I have to say that after using this tool on both my iphone and online, the TurboTax TaxCaster is a great tool for supplying you with several important tax factors including: your total income, your net taxable income, your marginal tax rate, and how much you owe, or how big your refund will be. What more do you need? try it today!

More TurboTax Tax Calculators and Apps

We have a list of TurboTax tax calculator tools, apps, and online or PC based income tax preparation programs that can help you get a better grip on those pesky tax season tasks. And some can even help you save some big bucks!

So without delay, here they are... Click links to visit our tax tools page for more info.

Hope all these tools can help you simplify your tax season projects and start growing your tax refund with deductions we should all be making an effort to take advantage of. It certainly isn't right to give it to our government to spend it responsibly...