Easy to use tax calculator aids in tax planning, preparation
Traverse City, MI -- (SBWIRE) -- 11/19/2014 -- When it comes to filing taxes every year, whether you get a big refund or have to write a check to the IRS shouldn’t be a surprise, says one tax preparation expert. Frank Ellis, a tax expert and writer for Examiner.com, recommends a free online tool that helps taxpayers manage and predict their tax liability for the following year.
“There is simply no reason for tax filers to be completely in the dark when they file their yearly return, because there are free, easy to use tools that can help taxpayers plan ahead for tax day,” says Ellis. “I’ve written about one of them, the Federal tax refund calculator, estimator in one of my articles for Examiner.com.”
The free tax calculator can help taxpayers decide ahead of time whether they should take the standard deduction or itemize their deductions. Knowing well ahead of time can help taxpayers make decisions to manage their tax liability for the following year, which could result in the difference between a big refund and owing the IRS on tax day.
Calculations are provided online in real time, according to the author. Other details such as spouse’s income and other earnings from that year are also requested. While users follow the prompts, calculations are made in real time so users can get the most insight from the information. How the process works is explained in detail by Frank Ellis.
“The key is planning ahead,” Ellis says. “The tax estimator, for example, can help you decide whether to make a major deductable purchase before or after the new tax year starts. It can also help you figure out if you need to save for next April 15th or start planning a nice vacation.”
Ellis recommends the free online tax refund estimator, calculator for its ease of use and utility.
His full article is available at http://www.examiner.com/article/how-to-estimate-your-irs-tax-refund-for-2014-2015
About Frank Ellis
Frank Ellis is a Traverse City Tax Preparation Planner and published author. He has written tax and finance related articles for eight years and has published over 800 articles on the Internet.
Best IRS Tax Refund
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