Estimated Tax Refund Amount 2013
An estimated refund is just that, an estimate. You can use a free tax calculator to get your own estimate of either what you can expect for a refund in 2013 or find out the approximate amount that you might owe. This isn’t an exact amount and I wouldn’t go spending this money before you actually file your return and receive your refund.
You will be prompted to enter some information regarding your filing status, dependent information, and income information in order to estimate your refund. An estimate can come in handy to find out if you are having the correct amount withheld from your paycheck each week. If you receive an estimate of an extremely large refund than you may want to increase your exemptions and if you find out that you will owe a large amount then you will want to decrease your exemptions. This can help you plan better for the end of the year so there aren’t any suprises.
Figuring out your estimated tax amount can be a huge part of your financial plan for the upcoming year. The estimated amount should be pretty close to what your refund or amount due is as long as you entered the most accurate information you had when you used the calculator.