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"You have to admire the Internal Revenue Service. Any organization that makes that much money with out advertising deserves respect" - Anonymous
The best way to address your tax burden is head-on. Only the direct approach will reveal all of the information and all of the potential tax-saving deductions that can keep more of your money in your pocket and less of it in Uncle Sam's. One of the best ways to attack taxes is by using and testing the many tax planning calculators available online. What do you owe? The best place to start with your taxes is by calculating what you owe the IRS. H & R Block has a good, easy-to-use estimated payments calculator that can help you know where you stand, tax-wise. Find it at: http://www.hrblock.com/taxes/tax_calculators/index.html How much can you withhold? One of the keys in saving money on your taxes is by accurately estimating how much you can withhold on your tax bill. Kiplinger.com has a nice tax withholding estimate calculator that can figure out your withholdings for you. It's at: http://www.kiplinger.com/tools/withholding/ Taxes and your Social Security: You and your employer pay social security taxes- otherwise known as your "FICA" tax. How much of that tax will wind up in your pocket in retirement? This calculator will figure it out for you: http://www.epricefinancial.com/wc.dll?cptest1%7Ecalc%7Essestimate%7Eepri All-in-one tax calculator page: Turbotax.com has a great suite of tax planning calculators-everything from figuring out your tax rate to how much your home mortgage can save you in taxes. Check it out at: http://turbotax.intuit.com/tax-tools/ On sale: Looking to buy a car? ...A new big-screen TV? ...A new tennis racket? Figure out what you'll be paying in sales taxes with this calculator from the folks at Convertit.com: http://www.convertit.com/Go/ConvertIt/Calculators/Finance/Sales_Tax_Calc.ASP |
