Turbotax 2020 Tax Estimator

TurboTax is undoubtedly one of the largest companies that offer tax solutions, tax filers, and calculators where you can prepare your taxes easily. TurboTax also offers a wide range of free tools where you can calculate your taxes and tax refund. The Tax Caster tool works on both web and mobile devices.

Tax Caster uses the one and only method to calculate your taxes. If the amount withheld from your paychecks throughout the year exceeds the amount you owe to the IRS, you will receive a tax refund. If not, the tool also shows how much you will owe to the IRS. You can use the Tax Caster tool from the TurboTax website by clicking here.

How to use Tax Caster

If you’re on mobile, the tool may not work for you online. You can download the app from the links below.

Tax Caster App – Android

Tax Caster App – iOS

On the front page, select your filing status and enter your income and taxes withheld from your paychecks. Again, depending on your filing status, a series of options will be offered to you to see if you’re eligible for certain deductions. Since TurboTax’s main focus is to get every deduction and credit you can claim, answering all the questions may take a while but it will all be worth it.

After you answered all the questions and entered the right amounts, you will know exactly how much your tax refund will be if you’re going to receive it. From there on, you can use TurboTax to file your taxes if you wish.

Should I use Turbotax to file my taxes?

The answer to this question comes down to if you’re able to handle all the paperwork by yourself and know exactly what deductions and tax credits you can claim when filing your tax return as the IRS will not point out the ones you can claim. So if you’re confident that you will not miss anything and pay what you deserve to pay, no. If you’re going in between, we strongly recommend filing your taxes with TurboTax once and see it from there for future years.

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