What to Look at When Estimating Your Tax Return - EXCOL, LLC
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What to Look at When Estimating Your Tax Return

Metaphorically Representation of Estimating a Tax Return

Details We Look at When Estimating Your Return

We look at your marital status, if you’re married or single, if you’re the head of the household, your age as of the ending tax year, if you’re a dependent or not, what were your taxable wages and federal withholdings of the tax year, what your income and expenses are, and if you had health insurance throughout the year.

Details for Estimating a Tax Return

What we need to know about you before estimating your tax return

Income & Expenses Used for the Estimate

We look at whether you have any childrendependentseducational costsown a home, made charitable contributions, have a retirement plan, have made tax payments besides wage withholding, apply for other deductions, are a business owner or self-employed, have made investments or have any other source of income.

Income & Expenses Considered for Tax Returns

If your situation applies to any of the options, that’ll affect whether your tax return goes up or down

How to Estimate Your Tax Return Online

At the moment, we don’t provide a free calculator online or in-person, but you can use free online calculators from different companies that’ll give you an estimate. H&R Block Calculator1040.comeFile.comLiberty TaxTaxAct, and TaxSlayer.

You can find more free online calculators but these companies are the biggest and longest-standing tax companies out there, allowing them the budget to create free online tools for the public.

Example of an Online Calculator from TaxSlayer

Example of a free online calculator from TaxSlayer

Learn More About Estimating Tax Return

If you have any questions about Estimating Tax Return you can ask about it and we'll either write an article about it or respond if we can.

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