How to Estimate How Much Your Tax Refund Will Be

It is not uncommon for taxpayers to want to know how much their tax refund is going to be before they file their taxes. Today, we are going to discuss how to estimate how much your tax refund will be.
Use a Tax Refund Calculator
One of the easiest and quickest ways for you to estimate how much your tax refund is going to be is to use one of the free tax refund calculators available throughout the web. You will have to enter various information to receive and estimation but it will give you an approximate number to keep in mind.

Compare Your Tax Situation from the Previous Year
If your tax situation has not changed much from the previous year, you can expect to receive a return amount that is in close proximity to the amount that you received previously. However, if you have had changes to your tax situation it may be best to use a tax refund calculator so you can have an idea of how much money you can expect.

Read our article, “Myths About Income Tax Deductions” Tax-Deductions



Bottom Line
Keep in mind that when you are given an estimation of your tax refund that it is an estimation and not a set in stone amount. Therefore, you should never spend money based on an estimation that was provided to you or you could find yourself in a financial crisis if the estimation was not accurate and you end up receiving less money than what you originally expected. The only for sure way to know how much your tax refund is going to be is to file your taxes.

If you liked this blog post, be sure to take a look at our Shoreline CPA blog post: “Three Tax Changes That You Need to Be Aware of for 2015″

Remember we’re a Seattle and Bellevue CPA firm! Take a look at our Seattle CPA profiles!

  • Huddleston Tax CPAs – Bellevue, WA
    Certified Public Accountants Focused on Small Business
    40 Lake Bellevue, Suite 100 Bellevue WA 98005
    (425) 273-6512

    Huddleston Tax CPAs & accountants provide tax preparation, tax planning, business coaching,
    QuickBooks consulting, bookkeeping, payroll, and business valuation services for small business.

    We serve: Sammamish, Kirkland, Mercer Island, Seattle, Redmond, Issaquah, and areas throughout WA.
    We have a few meeting locations. Call to meet John C. Huddleston, J.D., LL.M., CPA, Lance Hulbert, CPA, Grace Lee-Choi, CPA, Jennifer Zhou, CPA, or Jessica Chisholm, CPA. Member WSCPA.