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if your tax liability is less than the amount of tax you paid, you subtract the liability from the amount paid. the result is your refund owed.
if your tax liability is more than the amount of tax you paid, you subtract the amount you paid from your total liability. the result is what you owe.
Wiki User
∙ 12y ago
Wiki User
∙ 11y agoTo calculate sales tax you must multiply the price by the percent of tax. For example:
You buy a car for 20,000 dollars and pay 5 % in tax. How much is tax?
Tax = 20,000 times 5% = 20,000 times 0.05
Tax = 20,000 times 0.05 = 1,000 dollars.
The cost with tax is 20,000 + 1000 = 21,000
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Which online tax return calculator is easiest to use?
Turbotax has a good online tax service where they will ask you some questions and calculate your return for you. Hrblock.com has a free tax calculator which can help you calculate your own return.
Where can I find a tax return estimator?
The best place to find a tax return estimator is HRBLOCK.com. There are many other websites out there that can calculate this number for you that are accurate.
What are tax return loans?
Tax return loans are when an individual borrows an amount of money against their tax return.
What is file an amended tax return?
If you have filed a tax return but you then realize that your return is inaccurate in some way and you wish to correct the inaccuracy, you can file a revised tax return which would be called an amended tax return.
When filing for the federal income tax return do you have to attach schedule a for the state income tax return?
No, when filing for the federal income tax return, you do not attach the Schedule A for the state income tax return.
How you Calculate Provision for Income tax?
how to calculate provison for income tax
What salary amount is enter on your tax return?
That question is not on your tax return.
How do you calculate builders cot sales tax?
how do you calculate builders cot tax
H and R Block checking on tax return?
status on tax return
A server provided by e-government that requires access to the internet is?
E-tax returns
How much of your federal income tax withheld do you receive back in tax returns?
The amount of withheld federal income tax that is returned to you depends on a variety of factors. Your yearly income, marital status, number of dependents, and expenses are all used to calculate your tax return.
Who must file a tax return?
An income tax return must be filed by anyone eligible for a tax refund.
