How much can I expect for a refund?

Question

Sorry for the minimal info I don't think I am in the 25 percent bracket more like 15 to 16 percent I claim a dependent usually, I file Head of Household if it works in my favor sometimes my accountant files me as Single my gross income is roughly $24297.00 Head of Household with a dependent I am claiming 7800 dollars in mortgage interest and $2400.00 dollars in Property and school taxes.I'm hoping this helps..

Thanks

Answer 1

Even filing as single, you're nowhere near a 25% bracket. And in any year where you are eligible for head of household status, it's always better than filing single, so I don't understand your comment about "if it works in my favor".

Just having a dependent isn't enough to qualify you for head of household - the dependent has to be one of a particular list of relatives, and has to live with you for over half the year unless it's a dependent parent. Maybe that's why sometimes your accountant files you as single, sometimes head of household, if your dependent doesn't always live with you.

With a gross income of $24297, head of household with one dependent, even if you took the standard deduction, and if the dependent is your child and you can get the child tax credit, your taxes would only be a few hundred dollars total. By itemizing you'll even cut that down some, and just from the numbers you give in mortgate interest and real estate taxes, you have enough to itemize - then there will be some additional itemized deductions.

For anyone to give even a rough estimate of your refund, you'd have to say how much federal income tax withholding you had.

Answer 2

How did you have this many expenses but income of 24,000. Why would your accountant file you single instead of HOH?
Why would you list your deductions, from your descriptions you take the standard deduction.
what are school taxes?

Maybe I'm just confused, could you elaborate more?
or maybe you should ask that accountant of yours.