Estimated Tax Estimator
November 4th, 2010
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Question: What amount from my paystub do I enter when it ask for total wages. I’m doing the free tax estimator.?
I’m doing the free tax estimator on the hr block website and using my last paystub to get an estimate on my refund.
Answer: You’ll have to do some number crunching first. Take your gross wages and subtract any pension plan contributions, pre-tax health insurance premiums paid, and any other Section 125 deductions like FSA contributions. The resulting number should be pretty close to what box 1 on your W-2 will show. Needless to say you’ll have to wait for your W-2 to actually file.
Comptrollers estimates available revenue
The state will collect $77.3 billion in general revenue during the next two-year budget cycle, Comptroller Susan Combs said this morning. The comptroller estimated the Rainy Day Fund will have $9.4 billion in it at the end of the 2012-2013 biennium and that the size of the current deficit is $4.3 billion. This leaves lawmakers with a net of $72.2 billion to spend.
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