I'm married with 2 children. Kentucky is my state. I rent so know interest to write off. My income will be $68,000. Federal witheld is $6260. State witheld is $2130. City witheld is $880. I claimed 4 all year. An estimate would be greatly appreciated. thank you
2007-12-08 12:21:25 · 3 answers · asked by Laura H 1 in Business & Finance ➔ Taxes ➔ United States
not much, as your cutting it to the bone on exemptions.
2007-12-08 12:25:06 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Your federal income tax would be $5796 if you take a standard deduction, so your federal refund would be $464. If either of the kids is under age 17 you'll get a child tax credit for them of $1000 per child under 17 - the credits would decrease your tax by that much so would add to your refund. So if they are both under 17 your federal refund would be around $2464.
2007-12-08 21:34:06 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
If you claimed 4 dpnts and married it depends on your spouses income also. Then you have to calculate. If your spouse isnt head of the household and you are it depends on that also. If you claim them you should get around 12 to 15 hundred back! Best i can do 4 Ya.
2007-12-08 20:31:10 · answer #3 · answered by rookie 3 · 0⤊ 1⤋