H&R Block Tax Estimator 2011, 2012

There are many tax estimators that you can use for free on the Internet, but not all of them are reliable. It is essential that you use an estimator that is created by an established developer of automated tax tools.
The H&R Block tax estimator is one of the leading online tax tools available to you.

This company is widely considered the best tax service provider in the United States, and it has helped millions of taxpayers file their tax returns accurately. Drawing on its extensive tax expertise and understanding of common tax preparation problems, H&R Block has developed some of the most effective tax preparation programs in the world. Its free tax calculation tools are only designed to perform very simple tasks, but they are nonetheless capable of providing accurate estimation.

H&R Block offers three different kinds of free tax estimators, namely, a tax estimator for general tax preparation, a self-employed tax estimator, and a health care estimator for individuals. The basic tax estimator can be used for calculating the amount of tax refund that you will receive or the amount you owe. This tax tool is very easy to use, and you can answer all the questions in a relatively short time if you do not have a complicated tax situation. It asks questions in a very straightforward manner, and it does not require you to reveal your identity. It makes calculation based on information about your income and expenses, as well as the tax deductions that you are eligible for. As long as you submit all the required information correctly, you will get an accurate estimate of your taxes.

The self-employed tax estimator can help you calculate the amount of self-employment tax you need to pay. All you have to do is enter your filing status, self-employment income or loss, and wages that are subject to Social Security, and the calculator will reveal the total self-employment tax you need to pay. The health care estimator enables you to determine whether you qualify for health insurance tax credits in 2014. It is meant for people between the ages of 19 and 64, who purchase health insurance on their own in local health insurance exchanges in their states, and do not have coverage from other insurance programs.

If you are planning to prepare your taxes yourself, you have to make sure that all the calculations are done correctly. Calculation errors can result in penalties from the IRS. Making tax calculations can be difficult and confusing, because the tax forms do not provide very clear instructions, and you may not know exactly what information you need to submit. Also, if you have many itemized deductions to claim, there is a higher possibility that you will make calculation errors. One thing that you can do to ensure that your taxes are calculated correctly is to use an automated tax calculator.

All the abovementioned H&R Block tax calculators can be used for obtaining an estimate of your tax return and tax refund amount.