I graduated college this summer and worked a part time job before that. Is my 2006 total income small enough to get all my taxes that I paid back? (I've paid about $3000 in taxes this year). Thanks!
2006-12-06 04:22:38 · 7 answers · asked by marky p 1 in Business & Finance ➔ Taxes ➔ United States
Full? Probably not full, but you should get most of it!
If your taxable income was $17k, your taxes would be $730 plus 15% of the amount over $7,300 based on the 2005 tax table.
That works out to $815 back.
But you will get to reduce that for your self deduction and various other things. Major move this year to take a job? Interest on school loans? Charitable deductions?
You'll be able to knock the taxable income down.
2006-12-06 04:25:27 · answer #1 · answered by Aggie80 5 · 0⤊ 0⤋
You probably won't get it all back. If the $17.000 is your total for the year, including your part-time income while you were in school, and you're single with no dependents or itemized deductions, you'd probably get back about 2/3 of the $3000 you've paid in assuming that was all federal income tax withholding.
2006-12-06 05:10:22 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
If you mean you had $3000 withheld you will get most of your witholding $$ back but not all - no. Have to add in that part time job money as well. That wittholding way too high on $17k so should cut it down goign forward & not worry about refund.
2006-12-06 04:26:22 · answer #3 · answered by vegas_iwish 5 · 0⤊ 0⤋
I was in the same boat as you, I made under the threshold (poverty level) and All I did was take my tax stuff to Frohling & Associates in Canton, Michigan and they will get you everthing they can back, I know that each situation is different. I don't know if you have any kids. I made around that last year with one child and got back a bit over $5000.00. They even gave me free e-file and I got my federal back in just under 10 days. They dug for every deducation possible and took the time to actually ask me the questions. Some places you go to just do the basics so be careful where you go. They year before that I went to H & R Block and owed with around the same amounts of income give or take a couple hundred dollars. Just give them a call even if your out of state they can still do your taxes.
2006-12-06 04:55:24 · answer #4 · answered by Samantha G 1 · 0⤊ 3⤋
With just the info you have given, you should get at least most back. However I do not think all. How old are you? Children? Do you qualify for the Learning Credits? Not enough info to go on.
2006-12-06 04:26:15 · answer #5 · answered by johngrobmyer 5 · 0⤊ 0⤋
You should get alot of it back.Was This total taxes or federal and state ?That is what you go by.If you had dependents or were married you would get it all back.With just you you will probably get back about 1,000 dollars back.
2006-12-06 04:39:40 · answer #6 · answered by Anonymous · 0⤊ 0⤋
it depends.....on if u have anything to deduct
like have u started to pay back your student loans yet, if u have than u can deduct the interest.
u can deduct your tuition and book payments from jan-jun
it also depends on if your parents or someone else is claiming u
2006-12-06 05:08:48 · answer #7 · answered by Miki 6 · 1⤊ 0⤋