Calculating taxes isn’t really a fun job, and there are no two ways about it. There are many technical issues that need to be taken into consideration when making these calculations. Today however you have the opportunity to make use of a free tax calculator to get you through the process of calculating all your different taxes.
Amongst the different types of tax tools that you will be able to find on the internet is the withholding calculator. This incredibly easy to use tool makes it simple to keep a check on the amount you are withholding and the impact that it will have on your tax amounts. In the real world, it is quite tricky to manage this, but the calculator makes things extremely simple.
The Earned Income Credit Assistant is another free tax calculator that helps users determine whether or not they are eligible for EIC when they will be filing their taxes. Things like your marital status, number of children and income level are things that are taken into consideration while using this tool.
The Alternative Minimum Tax Assistant is yet another brilliant tool that you can use to determine your responsibility with regards to AMT. The tool will give you an approximate answer in a matter of 5-10 minutes.
Another form of the free tax calculator is the paycheck calculator. Many times payroll offices make serious mistakes. Using this calculator you can easily determine whether the “take home” pay you are being offered by your employers is accurate after all the necessary deductions have been made.
As you can see the different types of calculators help you in different
Most of us use Tax Tools to help us keep track of where we are so we can report this to the government during tax time. The most popular tool is Turbo Tax, and it works in conjunction with Quicken because you can link up the data. Actually all of the software of this type now link up, but some report minor difficulties when importing and moving back and forth from Quickbooks to Quicken and visa-versa.
Of course, Microsoft Money is popular too and folks use this to keep track of their financial situation throughout the year making it available for tax time. It also has files that help you do your taxes. Indeed, Microsoft Money comes with any new computer that you buy, it gets good reviews too.
TaxCut by H & R Block is another popular one that you can buy at Office Depot, Office Max or Staples and folks rate it at a four or five star depending on the review survey. Having the data you need when you need it helps simplify your taxes and makes for a stress free endeavor.
Small Business owners have embraced Quickbooks as it is set up for such things, over 20 million copies have been sold, and each year they upgrade to the latest in order to deal with the tax changes. For those who cannot balance their check book Quicken is a gift from God for personal use.
Some people say they love Quicken and small business owners, well many of them would be lost without Quickbooks. Of course, there are many more options for small business than just Quickbooks. For instance, Microsoft Money, Peachtree Accounting, Tax Cut, Microsoft Office Accounting 2008, and there is a review each year of the Top 20 Best Small Business Accounting Software Packages in PC Magazine. The best part of these accounting programs is they allow you to print out P & L Statements, Balance Sheets, and charts and graphs.