How much of a tax refund?

Home | Links | Contact Us | Bookmark

Financial Forum Search :

Financial Forum

Taxes

Finance Discussion Forum

Advertising & Marketing Corporations Credit Insurance Investing Personal Finance Renting & Real Estate Small Business Taxes Business & Finance

What is the First number of your social security?

And what state are you from? Is it related?...

Is it possile to lick your elbow while shoving golf balls in your ears on a saturday in December? If so...why?

...

Is it too late to file to receive an economic stimulus check?

My girlfriend (in her 20s) did not make enough money to file taxes for 2007. And, based on some bad advice from her dad, she didn't file to receive the economic stimulus check. Is there any ...

Could a company like Coca-Cola decide to move to the Philippines and stop paying USA taxes?

...

I got divorced on December 15th, 2007. Can we still file together?

...

UK budget day: Share your ideas on how we can bring down the Labour government?

...

What are you going to do with your crooked tax rebate?

I am going to buy 100 cups of coffee....

Can you deduct interest paid on an car loan from your taxes?

My brother is able to deduct the interest he pays on his farm equipment, and I'm able to deduct the interest I pay on a student loan... so I was wondering if anyone knows if it's possible (...

Why government collectiong income tax?

Why Govt. is taking income ...

Why does a round pizza come in a square box?

...

Just curious!! I have a friend that has only worked 1 month at a job making about $8.00hr then got fired.?

She hasn't worked anywhere else before or after. We live in PA----Now that tax times coming she's bragging about that she'll get about $7000 to 8000 back from taxes because she got 3 ...

I and my 3 children have lived with my friend most of the year.Can she claim head of household using us?

...

I've just had my first wage slip, but i've payed no tax what so ever. why is this?

I haven't even payed National Insurance or anything. What do i do?
Additional Details
Â£5.60 an hour.
16 hours per week.

I have only worked here for 3 weeks and get ...

When will I be able to apply for my tax returns of 2007?

...

Do you believe wealthy Americans should pay more tax? Why or why not?

...

How or where do I find out my tax code?

If I was still in employmment I should be able to get this easily but I have left my employment for a considerable time but now need this tax code. Can anyone help please?...

Expecting 6k in tax return & want to not spend, but save. What would be the best thing to do with my return?

I'm 40yrs. old, single mom w/2 kids, hardly any savings & rent an apt.
I really want to use my tax refund wisely; the only debt that I have is my car payment....

Why should I have to pay Social Security taxes when I know I wont get the benefits?

Im 23 years old and pay over a hundred dollars per paycheck towards social security. The program is doomed and theres no way I will get a check every month when I retire so why should I be forced to ...

Has anyone gotten their stimulus check yet?

I had direct deposit and the last two digits of my social is 01. I am single with 0 dependants. I heard it was suppose to start early on Monday and should be done by Friday.....but it's Friday ...

Stimulus Payment?

Someone told me that the direct deposit tax refund regardless of their ss# will all get them by 5/2 yet I went to IRS site and went through the "Where is my Stimulus Payment" and it said We ...

cybro04

How much of a tax refund?

My wife and I bring in approximately 95,000 a year together. We do not have dependents and we both claim 1 on our taxes. By the end of the year we would have paid 22,000 dollars in interest on our home loan. We paid 1600 in county propert taxes. That pretty much covers the major deductions. How much of a refund can we expect?

Ali M

Tax Year 2007
Since your expected income is $95000
you pay Approx $500 every two weeks for fed taxes
$500 X 26 = $13000
Married Filing Jointly

If no other income or adjustments then your AGI (Adjusted Gross Income) Form 1040 Line 37 = $95000

Other Assumptions:
No State income tax
No Medical Expenses over $7125
No Charitable Contributions
No Job related Expenses or other misc over 2% of your income

then your itemized deduction is $23600

then $95000 - $23600 = $71400
Personal Exemptions $3400 X 2 = $6800
$71400 - $6800 = $64600 This is your taxable income
Tax Table Amount $9004

then your estimated refund is
$13000 - $9004 = $3996

Notes:
Tax year 2008 your exemptions are expected to increase

Wayne Z

Who knows? I depends on how much you have had withheld from your paychecks.

If you had too much withheld, you will get a refund. If you didn't have enough withheld, you will owe.

Mass Marauder

Talk to an accountant.

SmartA$$

your refund depends on how much you paid in. The only real way to get an accurate estimate is to get a copy of the tax forms and fill in your best guess numbers to see your result. You can find copies of all the tax forms online.

For your estimate, you may have to use a 2007 form, but things haven't changed much so it will still give you a fairly accurate estimate.

Apple Jacks

give me all your money

Judy1

Would depend on whether one of you made a lot more than the other, or you made around the same - sounds weird I know, but that's how the tax tables work. Without knowing what's being withheld, no way to estimate a refund amount.

Could be a couple thousand dollars or could be a lot less if any. Sorry, but not enough info to tell.

blulildevl

You will probably have to pay seeing as you are in a higher bracket based on your salaries.

Clark Kent

You are expecting someone to calculate your tax return free of charge.
If you take it to a CPA, he can let you know but will charge for the time it takes to calculate it.

booter_hellboy

I Donno

http://answers.yahoo.com/question/index?qid=20081105122535AAk9rWF

Plzz Help With MY Question

devyn

probably 1600

Steve D

You don't tell us how much you paid into the system. Without that data no one will know whether you owe or are owed.

Enter Your Message or Comment

User Name:
User Email:
Post a comment: