To use the Web-based calculators, first you connect your computer to the Internet. Then, you click the calculator links we'll give you. Your browser will open automatically and bring you to the H&R Block web site. Follow the instructions on the screen to start up the calculator. To use each calculator, simply fill in the numbers that the calculator asks for and view the results. The calculators do not use your tax information from the software, and don't save your entries.
Because the Web calculators don't use your name or any other identifying information, security isn't a concern. Your personal information remains on your own computer, and won't be transmitted to the Web calculator.
No, the calculator doesn't use information from your tax return. You must enter your information into the calculator manually.
If you earn a substantial amount of self-employment or investment income, you probably need to pay estimated taxes.
On the other hand, if most of your income is from your job(s), you probably don't need to pay estimated taxes. You should check to make sure your wage withholding will be enough to avoid penalties for underpaying your 2011 tax during the year.
If you don't know the amounts, use estimates. You can also try out different income and expense amounts to see how they affect the bottom line.
Taxpayers who contribute to a retirement plan and meet these conditions are eligible for the credit:
You cannot be a full-time student in 2010.
You cannot be claimed as someone else’s dependent in 2010.
You must have been born before January 2, 1991.
The contributions you made to your retirement plans must exceed the distributions you received from your retirement plan.
Your tax cannot have been reduced to $0 by other credits. (You can claim a credit only up to the amount of tax you owe.)
Your adjusted gross income must be under $26,500 if single (under $39,750 if head of a household; under $53,000 if married filing jointly).