E-Lodge’s tax calculator can estimate tax return before it’s time to lodge your 2014 tax return!
Wondering what your tax refund or tax due will look like but not quite ready to lodge your taxes yet? No problem. Each year, E-Lodge releases an updated tax calculator allowing you to get a sneak peak at your 2014 tax refund or tax due total.
In fact, the E-Lodge tax calculator is now available for the 2013-2014 financial year!
Thanks to the E-Lodge tax calculator, you’ll have a heads up on how much you’ll end up forking over to the ATO this year or how much the ATO will be forking over to you (via a tax refund)! Once you’re ready to lodge your 2014 tax return, you can create an E-Lodge account and complete everything in minutes!
Is the E-Lodge Tax Calculator Easy to Use?
Easy to use is an understatement. The tax calculator takes only a few minutes to complete and contains three basic steps:
Income and Personal Information – such as gross taxable income, deductions from income, total tax withheld, etc.
Income Test Items – such as reportable fringe benefits, employer superannuation contributions, tax-free government pensions, etc.
Other Details – such as marital status, number of dependent children, number of dependent students, etc.
All of this information makes E-Lodge’s tax calculator the most accurate one out there.
Is the E-Lodge Tax Calculator Better than Other Calculators Out There?
Absolutely. Don’t bother wasting your time using other tax calculators. In fact, many miscalculate your tax details and leave you with false information.
Other tax calculators only ask for your income, and then spit out a uniform amount of how much tax you’ll owe based on the rates.
These calculators don’t take into account the complexities of the tax code and give you no indication of whether you can expect to receive a refund or pay tax, or how much either will be. Not E-Lodge.
We would hate for a poor tax calculator on another site to give you the impression you’ll be receiving a tax refund and later on, you’re slapped in the face with a large tax liability bill.
Even though the E-Lodge tax calculator gives you the most accurate estimate of your tax situation, you should still keep in mind that it is an estimate.
The calculator is not aware of every detail, and may not be able to include all the offsets and deductions you can take advantage of to lower your tax liability. To get an exact number,we highly suggest preparing your 2014 tax return.
The only way to have a completely accurate idea of how much you will owe or get back is to actually prepare your tax return. Thankfully, E-Lodge makes this easy.
You can completely prepare your 2014 tax return with E-Lodge and see how much you’ll get back without paying anything. Then, when you’re ready, you can proceed with lodgment.
Photo via opensource.com on Flickr.