I claim 5 and my husband claims 0. This year I will make 10,000 because I just started my job and he will make around 30,000. Will we have to owe taxes at the end of the year or will we be ok?
2007-09-07 12:16:39 · 4 answers · asked by Jennifer G 2 in Business & Finance ➔ Taxes ➔ United States
How many dependent children do you have? If you have no children, you will be OK. If you have dependent children, you will most likely get a refund.
But you may want to adjust your allowances for 2008. Tax prep places have calculators that can figure this for you.
2007-09-08 01:06:06 · answer #1 · answered by ninasgramma 7 · 0⤊ 0⤋
Well especially if you have three kids for exemptions, then you probably will have very little tax. You should get a very nice-sized refund from what your husband has paid in, especially with your husband claiming 0 exemptions (more gets taken out).
P.S. Even if you don't have any kids, you are going to be fine at least for this year.
2007-09-07 19:24:56 · answer #2 · answered by dkarlsenyh 3 · 0⤊ 0⤋
Well, that depends. Do you have any children who are your dependents? If you don't, you'll very likely owe. If you have at least one dependent child under age 17 so you get a child tax credit, then you should be OK.
Even if you don't have a child, if you have high itemized deductions you might still be OK.
2007-09-07 21:42:39 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
Here's a paycheck calculator website, www.paycheckcity.com, that should enable you to figure out if you will be ok or not.
2007-09-07 21:22:42 · answer #4 · answered by Anonymous · 0⤊ 0⤋