Planning on starting your taxes soon? Is tax reform top of mind? If so, we have some exciting news to share!
TurboTax has created the Tax Reform Calculator for Educational Purposes. A new interactive tax reform calculator that helps you understand how tax reform will impact you based on actual federal average outcomes of taxpayers in your similar situation.
You can simply choose the state you live in, select your marital status, number of dependents and income range, and the calculator will tell you the average federal tax outcome of taxpayers with similar tax situations based on your inputs.
From there, you can dig deeper into the data to get additional education on the impact of tax reform on tax deductions (standard vs. itemized), SALT (state and local property, income, and sales taxes), the Child Tax Credit, and AMT (alternative minimum tax). Check out our Tax Reform Calculator that answers some of the most frequently asked tax reform questions and get an estimate of your federal tax outcome!
And when it comes time to file your taxes, TurboTax will ask you simple questions about yourself and gives you the tax deductions and credits you are eligible for based on your entries.
If you still have any questions, you can connect live via one-way video to a TurboTax Live CPA or Enrolled Agent to get your tax questions answered. A TurboTax Live CPA or Enrolled Agent can even review, sign, and file your tax return.