Vinny Federal Income Tax Estimator 2008 8.1 description

Vinny Federal Income Tax Estimator 2008 is a FREE utility program that provides a quick estimate of your calendar year 2007 federal income tax. It is very simple to use and has a cross reference to 2007 federal form 1040 line numbers. The following are suggested uses:

1- Quick estimate, are you due a refund?, do you have to pay more?
2- Evaluate various personal or itemized deduction possibilities.
3- Cross check your normal tax preparation results.

The program steps and its reference data are noted in the readme file. The zip package vtax.zip contains the complete 32-bit utility program for Windows 95/98/ME/NT/XP/Vista.

The program steps are as follows:

1-Select the Filing Status radio button.
2-Check all the special exemptions that apply to you or your spouse.
3-Enter your estimated Adjusted Gross Income in (item 1).
4-Enter the total number of dependents you claim in (item 2).
5-At this point you can click on the [Update] button to estimate your federal income tax (item 6).
6-If you are planning on itemizing you deductions enter you estimate in (item 5) and re-click the [Update] button. The program always chooses the larger of the standard or itemized deduction.
7-You can enter the total federal tax withheld in (item 7) and re-click update. This will display (item 8 or item 9). These last two items are the estimated refund or payment due.
8-You can make changes to any of the entered items at any time and re-click [Update] to revise estimates. Use the [Clear] button to reset all values to zero. When you exit the program a small file (vTax.txt) in the vTax directory stores the last update and entered values.

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