Do you want to get an estimate of how much your tax refund will be before you file?
We just updated the 2011 tax calculator, complete with all of the 2011 tax brackets, credits, deductions, and everything else you’ll need to estimate your tax refund before the tax deadline.
2011 Tax Calculator
The 2011 tax calculator works based on the following inputs:
- Enter your filing status, income, deductions and credits.
- Enter your projected withholdings from your W4 (or your total withholding on your W2 if you have it) for the year to estimate your tax refund for April 2012.
- Select calculate to use the 2011 calculator to estimate your 2011 taxes.
- Select view report to see the entire tax calculator report.
Tax Calculator Inputs
Please note that this calculator uses 2011 tax tables. All of the tax parameters and definitions used to build the free tax calculator are based on the current tax laws, including the payroll tax cut.
As a reminder for the 2011 tax calculator, the outputs will be based on your tax calculator inputs. Don’t forget to include things like your Roth conversion from 2010 if you chose to spread the taxes on your Roth conversion over two years.
AMT Tax Calculator
The tax calculator also includes the AMT exemption amounts; there is not a separate AMT tax calculator.
2011 Tax Calculator Changes
We have updated the 2011 tax calculator from the original calculator. The original Bush tax cuts set to expire in 2010 were extended into 2011 with the Obama tax cuts. The Obama tax cuts were for everyone and did not use the original Obama tax cuts based on President Obama’s budget extending tax cuts for families making under $250k ($200k for individuals) and limits on itemized deductions.
If you are looking for the original tax calculator we used for 2011 income tax planning last year, the Tax Foundation also has a 2011 tax calculator that helps you project your 2011 income taxes based on all the options Congress was considering before they finalized the current laws.
It includes 2011 tax scenarios for capital gains tax rates and many of the items included in the expiring Bush tax cuts.
2011 Tax Returns
I’m working on projecting our taxes with the updated tax calculator. I still use a manual spreadsheet too, but I think the 2011 tax calculator makes it much easier for all of you to use! By the way, the tax calculator matches my spreadsheet to the dollar, so maybe it’s time for me to finally abandon my old ways!
