Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Aug 1, 2025 10:50:37 AM

Can I start estimating my tax liability now?

0 3 383
3 Replies
Level 15
Aug 1, 2025 11:35:22 AM

The 2025 program is not yet available and there are many new tax changes. A rough estimate can be made from the 2024 program but realize it won’t be entirely accurate. 

https://turbotax.intuit.com/tax-tools/calculators/taxcaster/

 

Level 15
Aug 1, 2025 2:09:02 PM

@shawnpm123 you can use the 2024 taxcaster but realize if you are eligible for any benefits under the tax law that was signed earlier this month, it is not incorporated in there.

 

Remember that everyone gets an additional $750 for the standard deduction, so if you are taking the standard deduction, "trick" the software and reduce one of your income line items by $750. 

 

 

Further, assume the tax liability in the 2024 app is about 3% overstated for 2025.  The tax brackets do get adjusted every year for inflation.  

 

As an alternative, this website is quite accurate, other than it does not have the new tax law rules incorporated:

 

https://www.dinkytown.net/java/1040-tax-calculator.html

Level 15
Aug 1, 2025 3:43:15 PM

Also, if you haven't yet seen the notice, TurboTax tax experts will be having an all-day question-and-answer event on the tax law changes in the "One Big Beautiful Bill" on Wednesday, August 6 from 9AM-5PM Pacific.

 

More info here:

https://ttlc.intuit.com/community/events/tax-law-changes-one-big-beautiful-bill-ask-the-experts/ec-p/3693099#M75

 

On August 6, there will be a link shown on that page to enter the special forum.