Calculate Your US Tax Liability

Consolidated Professional
Services, Inc.

Если не понимаете некоторые термины, позвоните 916. 485-1600 и мы Вам поможем.

На этой странице: Форма определения налогов. Следующие шаги. Советы по электронной отправке Декларации.

Ниже приведена форма, которая поможет Вам быстро приблизительно определить Вашу Федеральную налоговую судьбу. Использование этой формы для приготовления реальной налоговой декларации будет Вашей ошибкой.

The form (tool) below will help you estimate your U.S. Tax Liability. Print this form and fill in the blanks.

This tool is provided only to help you estimate your federal income tax bill. Use of this tool for any other purpose, such as preparation of a federal tax return, is not authorized.

This tool is provided on an "AS IS". There is no warranty of any kind regarding accuracy or completeness of this tool or your results, and the user assumes all risk of use. Use of this tool constitutes your acceptance of these terms. Users should consult with their own professional tax advisors concerning specific tax circumstances.

Income	To Present 12 mos.

Husband	___________________
Wife	___________________
Business Net Income/Loss	___________________
Interest, Dividends	___________________
Social Security	___________________
Unemployment Compensation	___________________
Partnerships/S corporation/trusts Income/Loss	___________________
Capital gains/loss	___________________
Rental Net Income (gross income-expenses, depreciation)/Loss	___________________
State Tax Refund (if you itemized deductions last year)	___________________
Other Income	___________________
*Total Income*		___________________

Expenses

IRA, KEOGH, SEP pension plans	___________________
Self-Employed Health Insurance (100%)	___________________

Itemized Deductions

Medical (7.5% limitation for residents & 100% for foreigners)	___________________
R/E taxes and other personal property tax	___________________
Auto License	___________________
State & Local Taxes	___________________
State disability insurance	___________________
Mortgage Interest/Points	___________________
Equity Line Interest	___________________
Charitable Contributions	___________________
Casualty and theft losses	___________________
Misc. Expenses (2% limitation)	___________________
Education, empl. expenses, tax preparation, union dues, job travel	___________________
Legal Fees, etc	___________________
Investments expenses up to income from investment		___________________
*Total Expenses*		___________________

Total Net Income (Total Income - Total Expenses)

___________________

If you do not itemize deductions, deduct from Total Income your standard deductions (Married: $11,400, Single: $5,700, Head of Household: $8,350; personal exemptions (number of dependents x $3,650), pension plan contributions, 100% of self-employed health insurance	___________________
Student loan interest up to $2,500 (with income limitations)	___________________
Medical savings account deductions	___________________
One-half of self-employed tax	___________________
Exclusion for foreign-source income-$91,400	___________________
Determine your tax by your status and schedule + if you are self-employed, you have to pay 15.3% Social Security tax (net income from business x 15.3%=S.S. Tax) minus Federal Tax you already paid from wages and estimated payments, minus: $1,000 child tax credit per child, HOPE credit up to $3,600 earned income credit, excess Social Security Payments, Lifetime, Hope, etc. learning credits.	___________________


This is your Federal Tax Liability or a Refund	___________________

You completed your tax estimation--congratulations!

Below a few links to good calculators and deductions help. Ниже приведены несколько адресов на Интернет, которые помогут Вам в расчётах:

Excel Quarterly Estimator Home Office Deduction Calculator Microsoft Tax Estimator Turbo Tax Estimator Valuation Guide for Charitable Gifts www.irs.gov

What is Next Steps?

Are you happy with a big refund? Don't pat yourself of the back so quickly. Big refunds mean you've been giving the government a free loan all year long. You may be withholding too much money, or sending in estimated payments that are too large. Check with your human resources department for ways to lower your withholding, give them a new Form W-4.

Do you owe a lot? If you owe a lot in taxes, you may not be withholding enough. Remember that you have to pay taxes on almost all sources of income, including interest, capital gains from stock sales, and income created in a small business (even if it's not your main source of income). If you owe too much in taxes, you could get charged for late payment. You have to pay tax throughout the year, rather than just in April. In fact, tax on income is supposed to be paid during the quarter that you earned it. If you have unexpected income, such as large capital gains, you can reduce the risk of getting a penalty by sending in estimated taxes.

Are you taking the standard deduction? For many the standard deductions may seem generous, easier to do, taking the time to itemize could mean lower taxes for you. If you own a home, or live in a high tax state, or make a lot of charitable contributions, it could certainly be worth your while to see if itemizing would cut your taxes. Itemizing on your tax return is not nearly as intimidating as it seems to you.

Could you cut your taxes even more? Many deductions require that you meet certain limits to take advantage of them. For instance, to take advantage of deducting medical expenses, they need to add up to more than 7.5% of your adjusted gross income (AGI) (only the amount above that is deductible). For miscellaneous deductions, the floor is 2% of your AGI. One strategy for achieving this is to "bunch" as many optional medical expenses into one year as possible, with the intention of adding up enough to get a deduction. Obviously, this should only be done with elective medical expenses!

If you make big bucks or you are foreigner electronic filing is not for you

IRS принимает електронные налоговые отчеты ежегодно, начиная с 15 Января. Если Вы не имели в прошлом году. дома, бизнеса, и не имеете необычных списаний: стихийное бедствие, кража, большие медицинские расходы и т.д., не платите деньги за подготовку Вашего отчета никому (это не касается иностранцев), готовьте отчёт сами.

При наличии компьютера процесс отправки декларации удивительно прост. Посетите страницу Tax Liability и найдёте всю необходимую информацию. Телефоны IRS 800.829.1040 и 800.829.4477 for low income taxpayers. Или посетите IRS at www.irs.gov/app/freeFile/welcome.jsp и, возможно, отправите Декларацию бесплатно.

Если не успеваете отправить Декларацию до 15 Апреля, Налоговое Управление продлевает сроки по телефону 1-888-796-1074. Когда звоните имейте форму 4868 перед глазами.

Если Вы живёте в Калифорнии и у Вас возникли вопросы, посетите State's WEB Sites : www.edd.cahnet.gov and www.ftb.ca.gov

			Free e-filing

			The states listed below allow residents to e-file directly to a state Web site at no cost. You can find them at www.taxadmin.org Arkansas California Colorado Connecticut Delaware District of Columbia Idaho Illinois Indiana Iowa Louisiana Maine Maryland Massachusetts Missouri Nebraska New Mexico Oklahoma Pennsylvania South Carolina Virginia Wisconsin Utah

Filing your income tax returns electronically won't make you taller, stronger or better looking. But if receiving your tax refund makes you happy, e-filing could hasten the joyous event.

Taxpayers who e-file get their refunds in three weeks, vs. up to six weeks for a paper return, according to the Internal Revenue Service. If you arrange to have your refund deposited directly into your bank account, you can receive it in as little as 10 days.

Speeding your refund isn't the only reason you should consider e-filing. Some other benefits:

· You'll make fewer errors. Electronically filed returns have an accuracy rate of 99%, vs. 81% for paper returns. Most electronic filing programs will do the math for you and flag potential errors before you file.

· Problems will be resolved quickly. If your return contains an error, such as an incorrect Social Security number, IRS computers will bounce it back to you, via e-mail, usually within 24 to 48 hours.You'll also receive an explanation of the reason your return was rejected, allowing you to fix the error and resubmit your return, she says. Resolving errors in paper returns can take weeks and delay your refund.

· You can track your return. Within 48 hours of filing, you'll receive a notice from the IRS that your return has been received. You won't have to worry about it getting lost or delayed in the mail.

· You can schedule your payment. If you owe money to the IRS, you're probably in no hurry to file your returns. But if you're not ready to pay now, you have three e-filing options.

You can authorize the IRS to debit your bank or checking account for the amount owed on April 15. You can e-file now and mail the IRS your payment by April 15. Or you can pay by credit card. A list of card companies that provide this service is available at www.irs.gov. You'll pay a fee, based on the amount of your payment, plus interest if you carry a balance on your card.

Next year, e-filing could be even more attractive for taxpayers who owe. The Bush administration has proposed extending the deadline for e-filers until April 25 or later. That would give e-filers who owe the government money at least 10 more days to come up with the cash.

More than 20 states already allow free e-filing over their Internet sites for state tax returns.

Most e-filers must use tax-preparation software or a Web-based program to e-file their returns. You can find a list at the IRS Web site, www.irs.gov.

Several tax preparers provide free e-filing for first-time filers or low-income taxpayers. TaxSlayer.com is offering free tax preparation and e-filing to taxpayers who live in areas affected by the Sept. 11 attacks.

If you don't qualify for free e-filing, shop around. Prices range from more than $30 for deluxe tax-preparation software to less than $10 for password-protected Web sites.

All of the preparers on the IRS site have been approved by the IRS, which tests their software. The IRS won't guarantee an error-free filing.

Once you've logged on to a Web site or downloaded the software, you'll be asked a series of questions. You'll need to have documents on hand, such as your W-2, to complete the interview. Once you're finished, most of the programs will show the amount of your refund or payment.

When you file electronically, you don't have to mail the IRS supporting documents, such as your W-2 or receipts for charitable contributions. But make sure you keep them for your records. If the IRS audits your returns, you'll need them.

If you want your refund deposited directly into a checking account, you'll need to tell the IRS where to send it. You'll need to provide a nine-digit routing number, usually located on the left-hand side of your checks. You'll also need the account number, usually to the right of the routing number.

Some financial institutions won't deposit a joint refund check into an individual account. So if you're married and filed a joint return, check with your bank before designating an account that is in only one spouse's name.

Many taxpayers who would welcome a speedy refund are hesitant to hurl sensitive financial information into cyberspace. Those concerns are understandable: Identity theft is one of the fastest-growing crimes in the USA, and hackers become more sophisticated every day.Security is a top priority at the IRS.

HELPFUL WEB SITES: ww.turbotax.com www.hrblock.com www.completetax.com www.taxact.com www.taxslayer.com/IRS911/ - Free for residents of New York City or the Washington, D.C., metro area. www.taxcite.com/freefiling opportunities.html Free for taxpayers with adjusted gross income of $25,000 or less. www.1040.com www.filetaxes.com www.taxcut.com www.hdvest.com www.taxtopic.com www.smbiz.com www.freeadvice.com www.taxhawk.com www.taxresources.com www.taxplanet.com

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