Where to get refund or tax estimates based on pay slip and some investments (401, IRA, mortgage)??

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Ravi
Ravi Member Posts: 1 Newcomer
edited January 15 in General

Hi,

I am planning to file married-jointly and a single earner in home.

I don't have any income other than salary and dividends.

I do have mortgage as I bough a home this year.

I make 100,000. Dividend is around 2000 and have paid around 24,000 in the interest of mortgage.

Do I still need to invest in IRA or 529 to save some tax?

Is there any online site where I can enter my details and get an idea of refund/tax?

Answers

  • AlexO
    AlexO FreeTaxUSA Agent Posts: 74
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    Hello, Ravi!

    That is a great question!

    IRA, 401(k), and HSA contributions can be deductible. The decision as to whether the tax savings are worth the investment must be made on an individual basis.

    You can enter your estimated figures into FreeTaxUSA's 2023 software in order to get a good idea as to your refund/tax owed.