ask.spoonah


on how much money uncle sam owes you
January 30, 2010, 4:11 pm
Filed under: advice, parenting | Tags: , , ,

Dear Spoonah,

I know that you are a money wise person, one who may be able to help me with a tax question, plus I trust you implicitly. I am filing as an employee this year. TONS of money was with held from my checks for tax purposes, its kind of exciting at this point. Is there a way I can calculate my refund based on those numbers and how many I claimed this year? Also is there a web site or other references I can use for deducting my truck and computer. Basically I want to know if I can see, even if its just a ball park, what my return might look like without actually filing.

Sincerely,

taxation without representation

dear taxation without representation,

to answer your question in a word, yes! there are ways to calculate your refund without actually filing. Any of the major online tax filing sites (like TurboTax, or H&R Block) usually have some kind of estimator on them for free, with no obligation. One that seems really user-friendly is available here. It includes a section, also, for unreimbursed business expenses (such as your computer and truck).

this should be a good way to get an idea of your refund, but when you go to file, I highly suggest at least talking to a tax pro (there are lots of low-cost or free tax helpers for lower-income folks, check out this link for some in your area), since your taxes are getting a wee bit complicated (what with business expenses but filing as an employee, for instance). They can also suggest some ways that you can maximize future tax benefits given your unique situation of being an employee who has business expenses.

happy happy filing (I love tax season)! and when you get that refund, check this out!

sweet tax dreams,

spoonah

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