Best tax calculator to handle your taxes for refunds, incomes and credits

Tax Calculator

Government has become the greatest basic expense that American families face.  According to the Tax Foundation, this year (as in other recent years), Americans will pay more in taxes than they spend on groceries, clothing and shelter combined.  With statistics such as that, who can afford to pay someone to help with their taxes?  Tax day is probably one of the most dreaded days of the year, but it doesn’t have to be.  With a little organization and some guidance as to how to get the those taxes filed, Tax Day might even be exciting when you think of the refund that you can receive in a short time.  In fact, technology has made it easier for the honest, tax paying folks to not only properly file your taxes, but to do it quickly and efficiently.

Tax calculators can not only provide tax planning advice all year long, if you are that organized,  but these websites can even provide information such as tax refund estimates and might even allow you to file your taxes simply and quickly.  There are several types of tax calculators and each can vary depending on your employment  These calculators are interactive tools  that allow you to compute an estimation of taxes based on variables that are supplied by you. As a taxpayer but also someone who wants to spend the least amount of time and money on aspirin, I have found several sites to be of great help.

Tax Policy Center   Compare Alternative Policies

http://calculator2.taxpolicycenter.org/index.cfm

This calculator is a tool to help you understand how current tax policies affect real families and what would happen if we changed that policy.  This website allows you to compare alternative tax policies and their results for various taxpayers in 2013.

Internal Revenue Service (IRS)   Tax Withholding Calculator

http://www.irs.gov/Individuals/IRS-Withholding-Calculator

The IRS website offers a withholding calculator which might benefit the following: Employees who would like to change their withholding to reduce their tax refund or their balance due; Employees whose situations are only approximated by the worksheets on the paper W-4 (e.g., anyone with concurrent jobs, or couples in which both are employed; those entitled to file as Head of Household; and those with several children eligible for the Child Tax Credit); Employees with non-wage income in excess of their adjustments and deductions, who would prefer to have tax on that income withheld from their paychecks rather than make periodic separate payments through the estimated tax procedures.

Convert It   Sales Tax Calculator

http://www.convertit.com/go/convertit/calculators/finance/sales_tax_calc.asp

This website provides simple financial calculators such as those for loans or sales tax.  There is even a simple tool to calculate currency exchange rates.

H&R Block   Income Tax Calculator

http://www.hrblock.com/taxes/tax_calculators/tools.html

This website not only allows you to file taxes online but they offer great calculating tools as well.  They have a tax estimator to calculate your refund or how much you’ll owe, they even tell you what documents are needed to complete your taxes.  They also offer a self employment estimator, a health care calculator for individuals, and even a job deduction guide which will help you to understand the tax issues surrounding your job and make sure you are getting all of the deductions you deserve.

1040   Income Tax Calculator

http://www.1040.com/tax-tools/calculators/

This website offers offers tax planning information useful all year long and even when it is time to file your taxes.  They provide information on self employment tax, social security benefit tax, and tools that indicate whether or not your investment interest is deductible amongst others.

Taxbrain   Income Tax Calculator

http://www.taxbrain.com/taxcenter/taxcalculator/default.asp

Taxbrain provides a tax calculator that will provide the approximation of your tax refund or even the amount you owe.

USA Today Historical Tax Rate and Federal Spending Calculator

http://usatoday30.usatoday.com/news/washington/tax-rates-spending.htm

Historical tax rate and federal spending calculator that allows you to enter your salary to see how tax rates and spending priorities have changed over time.

Williams College  Documentation  for a Comprehensive Historical US Federal and State Income Tax Calculator Program

http://web.williams.edu/Economics/papers/bakijaDocumentation_IncTaxCalc.pdf

The website offers PDF documentation for a tax calculator program that models federal and state personal income taxes at a high level of detail for a large number of years.

Total Tax Insights   Insight into the types of taxes that you pay

http://www.totaltaxinsights.org/

This is an easy to use tool that gives you a clearer picture of the types of taxes you pay including many you may not even know exist- and their estimated amounts.  You can also see how your total estimated tax liability compares to other locations around the country.

Shoeboxed   Online Receipt and Business Card Management System

https://www.shoeboxed.com/

I saved the best for last because not only does shoeboxed offer tax calculating services but this is a tool that can and should be used all year round.  Shoeboxed provides automated receipt management; they will process and filter all of your receipts, all the while saving your coupons!  They provide contact management options to manage your address book easily and painlessly.  This site is also useful for generating and sending expense reports, especially right from your computer to a mobile device. Aside from all of the other wonderful things shoeboxed has to offer, think of this site as an online filing cabinet for all of your documents, bills, credit cards or any other paper clutter that might take up space.  Shoeboxed is useful for tax time because all of your documents, especially receipts will have been organized in the months leading up to April.  What does this mean for you?  You can download a spreadsheet, Quickbooks or Quicken file from your Shoeboxed account for easy tax prep.  Since your receipts have been filtered and organized, you can maximize deductions which you might have otherwise missed.  In addition, these secure,  organized and filtered documents will keep you sane in the event of an audit.  Last but not least, the IRS accepts scans from the Shoeboxed site!

 IN CONCLUSION

Clearly, with the increase in technology, tax day has never before been such a hassle free event.  There is no reason to delay or avoid paying taxes anymore, there are just no excuses.  There are many of terrific sites and tools that exist to make your life easier.  Often, tax situations are not so clear cut and you might need a financial advisor or CPA to assist in tax filing, but why not at least quicker, easier and more painless for all involved?

Check out Shoeboxed

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