<klink type="prcdr">How do I estimate my income taxes?</klink>
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<tease>Why?</tease>
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<p>Use the Tax Estimator to project your tax liability for the year in progress or last year. Projecting the current year's taxes can help you plan to minimize your taxes, adjust your withholding amount, or calculate your estimated tax payments. Projecting last year's return can help you get ready to file your return and make sure you have all your information.</p>
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<ol>
<li>On the <emph>Taxes</emph> menu, click <emph>Tax Estimator</emph>.</li>
<li>Review your tax information and update it if necessary.</li>
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<li>To override a calculated amount, click the box and enter an amount. If you override an amount, future transactions you enter in your Money file will not affect the amount.</li>
<li>To see how Money calculated an amount, including any projected amount for the unfinished year, click the underlined heading.</li>
<li>To go back to Money's calculated amount, click the box, and then select the <emph>Use Money's amount</emph> check box.</li>
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<li>Click <emph>See Results</emph>.</li>
<li>To return to Money's default calculations, click <emph>Edit Tax Estimator</emph> in the left pane, and then click <emph>Reset Values</emph>.</li>
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<p>The Tax Estimator projects your tax liability for the year as closely as possible. However, the calculations may not be exact because of other information not in your file, any changes in the tax law, and other factors. Also, Money does not take into account certain tax items that are beyond the scope of a tax estimator, such as the alternative minimum tax and tax credits. See your tax professional for more information.</p>
