Quickly forecast your tax refund amount with TaxCaster, the convenient tax return calculator that’s always up-to-date on the latest tax laws. This interactive, income tax estimator provides accurate insight into how much you may get back this year or what you may owe before you file. And best of all, it’s absolutely free to use.
Simply download the TaxCaster Calculator App to your
iPhone and access it anytime, anywhere.
The information you enter is automatically saved so if you
have any changes, you can easily make them in seconds
to see how they affect your federal tax refund.
Tax refunds are calculated by subtracting the amount of federal income taxes withheld from your total
income taxes due for the year. If the amount withheld from your paychecks for taxes exceeds the amount you owe,
then you will receive a refund. There are several factors that can impact how much income tax you pay
and how much you get back as a refund. To better understand what influences adjustments
in your tax outcome, check out the articles below:
When getting ready to file your taxes, it’s a good thing to pay attention to your adjusted gross income (AGI). It can directly impact the how eligible you are for certain deductions and credits, which could reduce the amount of taxable income you report.
Different tax rates apply to different portions of your total income – minus your adjustments and deductions. Under the federal income tax system, “tax bracket” refers to the highest tax rate charged on your income.
Similar to deductions, tax exemptions can reduce your tax bill. Most people are entitled to some type of exemption depending on your situation. Beginning with the 2018 tax year, personal and dependent exemptions are no longer used on your federal tax return.
The first step in preparing your federal tax return is determining your filing status. Generally, you will have to select between single, head of household, married filing jointly and separately, or as a qualified widower. Your filing status determines your standard deduction, tax rates, and brackets.
Tax credits cover a wide range of expenses and situation, helping to reduce the amount of income tax you owe to the federal and state governments. In most cases, tax credits cover expenses you paid thought the year and come with requirements you must satisfy before you can claim them.
Know how much to withhold from your paycheck to get a bigger refund
Easily calculate your tax rate to make smart financial decisions
Estimate your self-employment tax and eliminate any surprises
Know what dependents credits and deductions you can claim
See how much your charitable donations can get the most of what you’re giving
Know what tax documents you'll need upfront