I claim me and my two kids last year for taxes?

Question

I made 27,000 last year and I got back 6,300. I'm thinking about claim my wife this year and made 30,000 this year. will i get more or less then last year.

Answer 1

Do you file a joint return? Does your wife work?

The best thing to do, without having knowledge of your individual situation, is file a joint return.

You cannot claim your wife, however; you will receive a much larger standard deduction and claim four exemptions. i.e. less taxes

As I said, this is without knowledge of your personal situation.

Answer 2

You can't "claim" a spouse as a dependent, but you can file a joint return - last year how did you file and how did she file? Does she have income also, or are you the only one working?

File a joint return with your wife. You will get exemptions for each of you and for the 2 kids, and a standard deduction totalling $10,700 for you and your wife. If the $30K is your total joint income, you'll be eligible for EIC. Your total refund should be around $1753 for EIC plus whatever was withheld for federal income tax - check your paystub for that amount. Your EIC will be about $500 smaller this year than last year because you made more money.

Answer 3

Let's go back to last year's return. Generally if you got a LOT of money back, that means you probably filed Head of Household and claimed EIC. Where was your wife living? If she lived with you, HOH wasn't a valid filing status.

If this is the case, you need to amend the 2006 return as soon as possible.

Answer 4

If your filed a married filing joint return last year and had two children under age 17, your refundable credits were $4,035.

This year, your refundable credits are $3,485. So that's $550 less. Your actual refund will depend on any other deductions and credits, as well as your withholding.