How to Estimate Your Tax Refund

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To estimate a tax refund, take all of the tax documents from the previous year to a CPA, or use an online program like TurboTax, which enables an individual to gain access to a return much sooner than filing by mail. Estimate a tax refund amount with information from a registered financial consultant in this free video on personal finance.

Part of the Video Series: Personal Financial Advice
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Video Transcript

This is financial adviser Patrick Munro talking about how to estimate your tax refund. Basically, at this time of the year, if an individual has got all of their information, it's arrived in the mail from their past year of employment. They can immediately begin to fill out their tax return. They then apply the appropriate tax credits that are there using a CPA to do so or you can use TurboTax or one of the appropriate softwares that are available out on the marketplace. It's at that time that you'll be able to see approximately how much your tax refund will have amounted to. And if you choose to file your return immediately, you can do so. In fact, there's a chance, for you to go and receive an immediate refund using one of the tax services, they will charge you a fee in order to give you the money in a most expeditious fashion. This way, you don't have to wait for the many weeks for the federal government to return an official check to you. Basically, a tax refund is a return of your own money, by the way, because you have given a loan to the government during a period of time. But these are ways to estimate your tax refund. I'm financial adviser Patrick Munro.

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