Would you like to do a quick estimate of your taxes before tackling the real thing? By entering some basic information regarding your earnings, filing status, and deductions you can get a quick estimate of your Federal tax refund or amount you owe Uncle Sam.

The Turbotax online website has a tax return estimator that you can use for free. Use this handy planning tool to figure out how much of a tax refund you'll get or how much you'll owe.

How to use the tax estimator - Just enter this basic info

• You and your family This is where you enter your filing status. Single, married filing jointly, married filing separately, or head of household. Number of dependents are also entered here.
• Earnings and Income Money you earned from wages, self-employment and investments are entered into the tax refund estimator here.
• Deductions and personal expenses Enter your amounts into these pre-set categories: Medical expenses, real estate and personal property taxes, home mortgage interest and points, home equity loan interest, charitable contributions, alimony you paid, child care expenses, and other miscellaneous deductions.
• Withholding taxes Enter the amount of your Federal income tax withheld, and State income tax withheld.

After entering your information the tax estimator will give you a summary of your tax situation. This summary will give you a good idea of your tax refund amount or taxes you owe. After you've used the tax refund estimator you'll also get a list of tax tips for your situation.

To use the tax refund estimator, go to Turbo Tax Online where you can use the tax calculator, estimator free of charge. There's no catch. Just click on the tax calculators link when you get there to use the free tax return estimator. Article Source: http://EzineArticles.com/?expert=Frank_W_Ellis