English Deutsch Français Italiano Español Português 繁體中文 Bahasa Indonesia Tiếng Việt ภาษาไทย
All categories

tryin to see what i will expect back from taxes,....i got married this year, now have 4 children..bought a house this year also...my wife worked...i have made approx 34 thousand gross,..she 7 thousand......approx, according to gross on my checkstub....have paid bout 3 grand in interest on house payments..fed income tax withheld is 4500.......can someone guesstimate?

2006-12-09 12:13:30 · 4 answers · asked by niner_72601 1 in Business & Finance Taxes United States

4 answers

All $4,500 back to you.

W-2 wages = $41,000

Standard Deduction = $10,300
Personal Exemptions = $19,800 (3,300 * 6. you, wife, 4 kids)

Taxable Income = $10,900

Federal Tax = $1,090
Nonrefundable child tax credit = $4,000 ($1k per kid)

Tax liability = $0

Refund of full $4,500 withheld.

Please make your check out to K Soze for my time. 5 minutes at a billing rate of.........:-P

2006-12-09 12:29:23 · answer #1 · answered by Anonymous · 2 0

If you get married on or before dec 31 you can file married for the entire year. You might want to consider filing seperatley (sp) if she only made 7000.00. There might be a benefit to that. Check the irs website.

2006-12-13 07:07:14 · answer #2 · answered by davidm_42 2 · 0 0

Good answer from K Soze. Are any of the children your wife's but not yours? If so, and your wife signed away the exemption to her ex, you would not be able to take them.

2006-12-10 09:08:56 · answer #3 · answered by skip 6 · 1 0

with the liberal electorate on hexxuva lot more than you have now in january.

2006-12-09 20:15:49 · answer #4 · answered by koalatcomics 7 · 0 2

fedest.com, questions and answers