Since we have had some life events this year, mainly building a new home and refinancing our old one, I thought I better begin the tax estimation process. I also did this last year when I had a retirement life event. I pulled up the TurboTax 2010 Tax estimator to approximate our Federal tax situation.
The process is bringing a little bah humbug to an otherwise jolly time. Some of the initial numbers popping out scare me a little. However, we’re not using actual data at this time, only top-of-the-head estimated numbers and there are still a lot of things we can do that may help the situation.
Hat tip to John Lott who used this estimator in a post he made about tax rates being unfairly distributed..