How to Estimate Taxes Owed
- 1). Determine your filing status, exemptions, total income, and any adjustments to that income, like moving expenses, educator expenses, or self-employment taxes. You can get this information from your W2s, from the payroll department at your place of employment or by reading the IRS website, which offers details on whether you qualify for adjustments or exemptions.
- 2). Enter this information into a calculator set up online to estimate your taxes owed. Sites that offer this include Bank Rate, AARP and 1040.
- 3). Check the data you've put into the calculator to be sure that it's accurate.
- 4). Hit the "Calculate" button to receive your estimated taxes owed.
Source...