will i get what i paid in taxes back?

Question

i recently got a bonus.they took out 4,800. i made 42000 this year with the bonus of 19,000 included. ive paid 7000 in taxes this year. I'm married filing joint with 3 dependents under 13. What is my estimated refund

Answer 1

No

Answer 2

Go to turbo tax online and they will do one for you for free. Too much missing info (and too much effort) for us to do this for you.

The important missing information is:

Did you get any other income (like bank interest)?
You are filing jointly....Did your wife have income?
Do you own a home and what are your property taxes? What are your interest payments from your mortgage?
What are your charitable contributions?
Did you get a stat and/or refund last year?
What were your state and local taxes paid this year?

There are other concerns but the above is the most common.

With that info, we could do your taxes. Otherwise we use the standard deduction and you might get taxed higher than necessary

Answer 3

You are in to high of a Tax braket to get it all back sorry.
My husband brings home just under 30,000 a year and one year he got a bonus of 8,000 that year we only got about 75% of our taxes back. Our family size is the same. Sorry

I know that you made to much to qualify for the EIC that cut of is 35,263. That would have been about a 4,400 credit.

Answer 4

If you and your spouse have no other income except the $42,000, and have three kids under 17, your child tax credit should wipe out the income tax you would owe, so you'd get back whatever you had withheld.

Answer 5

With that income your taxable income works out to $14,300 and the tax is $1,430. The Child Tax Credit wipes that out. You'll get everything back that was withheld for Federal Income Tax.

Answer 6

You are taxed on your earnings so there is no refund,