how much will i get back on my tax return? (heres a lil info)
19 years old
single
no dependents
live with mom (don't claim me on her taxes)
YTD
Federal tax 2399.01
FICA/MED 2122.52
Indiana 1102
Laporte 503
i make around 1200 biweeky and so far i've made around 20000 this year
2007-09-11 12:22:58 · 5 answers · asked by hmmm 2 in Business & Finance ➔ Taxes ➔ United States
Assuming you will make $29,000 in the year 2007. You are Single and no one can claim you a dependent. You Federal deduction is $8,750. Your Federal taxable income is $20,250.
Your SS tax @6.2% on $29,00 is $1798
Your medicare tax @1.45% on $29,000 is $420.50
Your federal tax on $20,250 is $2680
Your state taxes are around $1200 (Just took an approximate figure)
Your total taxes are $6098.50
Your take home income is $22,902.
2007-09-11 13:21:43 · answer #1 · answered by MukatA 6 · 0⤊ 0⤋
Go here http://www.irs.gov/individuals/article/0,,id=96196,00.html and enter this information into the withholding calculator on the IRS website. It will give you an estimate of your refund and also let you know if you are doing the withholding on your W-4 properly.
2007-09-11 19:29:11 · answer #2 · answered by jml167 4 · 0⤊ 0⤋
Maybe around $500 for federal.
2007-09-14 10:27:08 · answer #3 · answered by Judy 7 · 0⤊ 0⤋
all depends on what do you declair in your taxes and if you are single or dependet , a single person pays about 10 % and get the rest back but dont quote me on it it is differend in diffrend states
2007-09-11 19:32:35 · answer #4 · answered by Baby 4 · 0⤊ 0⤋
u need to get some kids
2007-09-11 19:28:42 · answer #5 · answered by caldwell1263 2 · 0⤊ 0⤋