How to Estimate Your Taxes inLess than 60 SecondsUsing Taxes PhD Tax Estimator
Taxes PhD Tax Estimator✤   Free Online Tax Estimator www.TaxesPhD.net✤   Quickly    ✤   See if you have a refund or balanc...
Personal Information (1st Tab)✤   Required Fields    ✤   Filing Status    ✤   Date of Birth✤   Items Calculated Automatica...
Income (2nd Tab)✤   Add income you received from all sources✤   Social Security: enter total amount received    ✤   Estima...
Adjustments (3rd Tab)✤   Adjustments correspond to the bottom of Form 1040, Page 1✤   These reduce the amount of income yo...
Taxes & Credits (4th Tab)✤   Schedule A - Itemized Deductions    ✤   Click “Schedule A” button to enter amounts    ✤   Som...
Payments (5th Tab)✤   Include any quarterly estimated tax payments and/or withholding    for any 1099 forms✤   Earned Inco...
Results (6th Tab)✤   Click “Calculate” button to get your results✤   Diagnostics:    ✤   Looks for common errors & warnings
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Estimate Your Income Taxes in Seconds

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This slide show provides an overview of how you can estimate your income taxes very quickly without inputting a bunch of data into a standard income tax software program. This is specifically designed to be fast and easy.

Published in: Economy & Finance
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Estimate Your Income Taxes in Seconds

  1. 1. How to Estimate Your Taxes inLess than 60 SecondsUsing Taxes PhD Tax Estimator
  2. 2. Taxes PhD Tax Estimator✤ Free Online Tax Estimator www.TaxesPhD.net✤ Quickly ✤ See if you have a refund or balance due ✤ Calculate accurate estimated tax payments ✤ Reveal the impact of deductions and credits ✤ Adjust your withholding amounts
  3. 3. Personal Information (1st Tab)✤ Required Fields ✤ Filing Status ✤ Date of Birth✤ Items Calculated Automatically: ✤ Standard deduction, Earned Income Credit, Child Tax Credit
  4. 4. Income (2nd Tab)✤ Add income you received from all sources✤ Social Security: enter total amount received ✤ Estimator will determine how much is subject to tax (if any)✤ You can estimate these if you don’t have all your information available
  5. 5. Adjustments (3rd Tab)✤ Adjustments correspond to the bottom of Form 1040, Page 1✤ These reduce the amount of income you will be taxed on✤ Deductible portion of Self-employment tax will be calculated automatically
  6. 6. Taxes & Credits (4th Tab)✤ Schedule A - Itemized Deductions ✤ Click “Schedule A” button to enter amounts ✤ Some items on Schedule A are limited. The amount you can deduct will be calculated automatically.✤ Child Tax Credit is calculated automatically
  7. 7. Payments (5th Tab)✤ Include any quarterly estimated tax payments and/or withholding for any 1099 forms✤ Earned Income Credit and Additional Child Tax Credits are refundable credits (refundable credit amounts are equivalent to payments). These are calculated automatically.✤ Include any other amounts that correspond to the payments section located on Form 1040, Page 2
  8. 8. Results (6th Tab)✤ Click “Calculate” button to get your results✤ Diagnostics: ✤ Looks for common errors & warnings

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