How much of a refund will you get this year from the IRS? Estimating your tax refund before you file your taxes can really help with financial planning. The good news is that you can estimate your refund for free online with a number of calculators. So, which tax refund estimator should you use? TurboTax is America’s #1 tax software with an incredible 73% market share. (source) Even though there are cheaper tax software brands than TurboTax choosing the best is probably a good investment. Plus, they guarantee to get you your maximum refund, so you can think of the expense as an investment. There are 7 federal income tax brackets currently ranging from 10-37% and how much you pay depends on your taxable income and filing status. However, all of your income is likely not taxed at one single bracket rate. That’s because federal income is taxed in chunks as you ascend up the tax brackets, making the math a little complex. TurboTax Self Employed Edition has increased in popularity as more people become freelancers, side-hustlers, and small business owners. If you are self-employed, other editions of TurboTax probably won’t meet your needs because they won’t find all of the industry-specific deductions you qualify for. TurboTax has run some pretty memorable ad campaigns over the years on TV during tax season. This includes running some pretty funny Superbowl commercials over the last 8 years in a row now. Unemployment numbers show that a lot of people lost their jobs last year. This means that a lot of people need to know exactly what they need to file their taxes during this difficult time. If your tax situation is simple or you are in the military, you may even be able to file free with TurboTax or H&R Block Free Edition. Is TurboTax really free? During tax season you can’t miss the myriad ads for TurboTax Free Edition. In fact, this one says “free” 23 times in a 30-second commercial! In case it’s not clear enough, they end by saying, “That’s right, TurboTax Free Edition is free. Free, free, free, free!” So, I’d say that TurboTax strongly implies that you can file for free, right? Are you a client of Chase Bank who uses TurboTax to file your taxes? Or, perhaps you use a Chase credit card? If so, you might be able to get a great discount on tax software, including TurboTax (all coupons), through the Chase Tax Center. Are you an active-duty member of the U.S. Military? If so, you’ll want to check out TurboTax’s special Free Military Edition.
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