my girlfriend and I were curious how much would she possibly get back? She gets $13 an hour but she works overtime alot and for a two week check it would be $1400 and $300 goes to taxes roughly what kind of return would she see at that rate?
2007-08-04 01:49:12 · 5 answers · asked by biking for life 4 in Business & Finance ➔ Taxes ➔ United States
No way to predict. Any refund is based upon paying in too much throughout the year via deductions. Until you prepare a tax return at the end of the year it's not possible to predict what your tax liability will be or how much of a refund one will receive.
If withholding allowances are property set, there will be a small refund at the end of the year, no more than a few hundred dollars at most regardless of the gross income involved.
2007-08-04 01:56:36 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
Assuming this is a typical paycheck for all year, and that she is single, not a dependent, doesn't have any dependents, adjustments, or credits, and takes the standard deduction, she'd owe around $3775 in federal income taxes for the year, which would be .$145 out of each paycheck. So if her federal tax withholding is higher than that, she'd get the extra refunded to her. I assume that the $300 you mention includes ALL taxes that are deducted, so there's no real way to tell how much would be federal income tax withholding. There would be around $107 withheld for social security and medicare. You don't say where she lives - there would very possibly be state and local taxes also withheld.
If her paycheck is about the same every time, look at what was withheld for federal income tax, subtract $145, then multiply by 26 pay periods per year for an estimate - realise that this is only an estimate. If her overtime, and therefore her paycheck, varies a lot from week to week, then there's no real way to tell.
If any of the assumptions at the top of this answer are wrong, then there's not enough info to tell.
2007-08-04 03:39:56 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
Impossible to determine with those numbers. If you had a great need to know I would suggest using excel to create your actual income to date and projection until the end of the year (look at her pay stub, saying "works overtime alot" is a meaningless statement). Once you have solid estimates of her income and withholding, you have two options:
1) go to irs.gov and use the 2006 tax forms (sounds like 1040-EZ will be sufficient) to create a mock return. Will get you in the ballpark anyways.
2) Find an accountant who isn't working on 9/15 or 10/15 deadlines and see if he/she will do some tax planning for you (this is usually done in Nov/Dec). For a simple case likes this, a small accountant might be able to prepare the numbers for you for as little as $200 or might even waive the fee if you and your girlfriend commit to having him/her do your taxes at year end.
3) use an online tax estimator program. Looks like HR Block has one. I have no idea how reliable this estimator is, but I doubt it is materially wrong. http://www.hrblock.com/taxes/tax_calculators/index.html?calcIndx=18&referlink=inpage
2007-08-04 02:17:21 · answer #3 · answered by Jeff 2 · 0⤊ 0⤋
If she have been given unemployment or the different taxable earnings over a entire of $3700, you are able to not declare her despite if she did no longer artwork. If her entire earnings replaced into decrease than $3700 and you lived mutually all twelve months in case you presented over a million/2 of her help, you're transforming into to be the capacity to declare her. It relies upon on the place you reside - in the adventure that your state or close by area has a regulation nevertheless on the books against cohabitation by ability of single adults, you are able to not declare her, despite if the regulation isn't any longer enforced. have self belief it or no longer, numerous states and a good number of close by factors do nevertheless have such rules on the books.
2016-10-01 09:23:18 · answer #4 · answered by ? 4 · 0⤊ 0⤋
VERY rough estimate.
2800 x 12 = 33600 wages
600 x 12 = 7200 taxes withheld
33600 - 5150 (standard deduction) - 3300 (personal exemption) = 25150 taxable income
Tax is 25150 - 7550 = 17600 X .15 = 2640 + 755 = 3399
REFUND 3801 (7200 - 3399)
PLEASE this is based on her making app the same each month and having the withholding stay steady. The figures are based on her filing single, if there are children the figures will all change. THIS IS REALLY AN EXAMPLE ONLY and is NOT to be used for any financial decisions period.
I think I just saved you that 200 H%R Block would charge! LOL
2007-08-04 02:21:36 · answer #5 · answered by Anonymous · 0⤊ 3⤋