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Anyone used this Tax Calculator ?......
Old 02-23-2018, 09:28 PM   #1
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Anyone used this Tax Calculator ?......

This looks pretty good to me and I was wondering if there are any opinions on it here? --- It also does State Taxes....

Not sure how accurate it is; but it is very easy to use as it does not make you answer questions, but you just select the Tabs you want to fill out. (I never do my own taxes, but I do like to estimate them for Planning purposes).

Income Tax Calculator - Tax-Rates.org
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Old 02-24-2018, 03:17 AM   #2
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I didn't try it out but after taking a quick look at it the accuracy of it is questionable. See the note below shown on the top of the calculator, looks like they are still using 2015's tables for the state part. The default that they use for the Personal Exemption and Standard Deduction for the Federal part has not been updated to reflect the new 2017 amounts either.

Quote:
Note - State tax brackets for tax year 2016 (due April 2017) will be available shortly. Estimates currently based on TY 2015 state brackets.
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Old 02-24-2018, 04:39 AM   #3
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I've used it for years, and like it.
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Old 02-24-2018, 05:01 AM   #4
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They ask for "Taxable SS". Are they asking for the total SS amount or do they expect you to enter the amount after the SS tax credit?

Same with Med Expenses. Do I have to do the math (7.5% of X etc) or do I enter the full amount and they figure it out?
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Old 02-24-2018, 05:10 AM   #5
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I like Tax caster better, but mainly because it designates pension and retirement account withdrawals which are not taxed in my state(Illinois).
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Old 02-24-2018, 09:36 AM   #6
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Answer page says 2017 but looks like it is using 2018 methodology.
Looks slick but doesn't add additional elderly amounts to std deduction; requires you to calculate taxable amt of SS, doesn't ask about qualified dividends so you might put them in the wrong place; for state, requires you to know if SS is taxable or not. For federal , answer seems to come out higher than other calculators I've used.
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Old 02-24-2018, 09:40 AM   #7
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It does not look at qualified dividends?
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Old 02-24-2018, 09:42 AM   #8
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This one from H&R Block has served me well:

https://www.hrblock.com/tax-calculator/#/en/te/aboutYou
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Old 02-24-2018, 09:48 AM   #9
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Here is an easy one that I use Tax Calculator - Estimate Your Income Tax for 2017 and 2018 - Free!
I like everything on one page.
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Old 02-24-2018, 10:00 AM   #10
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Quote:
Originally Posted by rec7 View Post
It does not look at qualified dividends?
You enter income into the labeled categories: dividends are listed w/ interest and the ? explanation says usually taxed as ordinary income.

Much better software designer than a tax guy, I would say.

You can get around by entering your qual dividends as LTCG but that's not the best way...............what if you had capital losses and QDIV . Then you'd be netting them together.
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