Its almost tax season and i was wondering what is the percentage you get back if you claim medical and education. I live in North Carolina.
2007-12-15 13:46:53 · 9 answers · asked by Southport pc 2 in Business & Finance ➔ Taxes ➔ United States
Hi there! I live just north of you. If you need a tax friend let me know hunnie because i go to NC all the time. We could ride horses while i am down there too.
If not? Talk to your local tax specialist and he will be more than happy to help you. You can never trust these people on here to give you any real answers and you don't want to take any risks with your money or guess.
2007-12-15 13:53:18 · answer #1 · answered by LM 5 · 0⤊ 0⤋
Claiming medical expenses is part of itemizing expenses - you can only claim medical expenses that exceed 7.5% of your adjusted gross income (AGI). The percentage that the deductions save you in tax is your tax bracket percent.
Education credits are calculated depending on a variety of factors, and the percent of the expenses that is a tax benefit to you varies depending on those factors.
For neither medical or educational expenses is there some flat percent that you get back.
2007-12-15 14:22:23 · answer #2 · answered by Judy 7 · 1⤊ 1⤋
If you didn't qualify last year for a stimulus check, but do based on your 2008 return, you'd get it, with the amount figured in with your refund calculation. If you got it last year, then no.
2016-05-24 03:35:38 · answer #3 · answered by janell 3 · 0⤊ 0⤋
there is NO SET PERCENTAGE that you "get back". Each return is unique. If you cannot prepare it yourself, get a professional to help you---and remember, what you pay the preparer is an ITEMIZED DEDUCTION next year. Make sure your preparer SIGNS your return also.
2007-12-15 13:51:47 · answer #4 · answered by Mike 7 · 1⤊ 0⤋
go check with you local tax services ( i live in N.C. too, It's the best but let's not tell anyone because there are enough people here)
2007-12-15 13:50:57 · answer #5 · answered by tfstorres 1 · 1⤊ 0⤋
get back? if you get money back that means you overpaid. in other words, you loaned your money out, interest free. and in fact because of inflation (the hidden tax) you lost money.
2007-12-15 13:50:18 · answer #6 · answered by Anonymous · 0⤊ 2⤋
You can ask Michael Jordan
2007-12-15 13:52:08 · answer #7 · answered by Anonymous · 0⤊ 3⤋
ain't no deduction for education i know of.
2007-12-15 15:01:22 · answer #8 · answered by Anonymous · 0⤊ 2⤋
usualy 8.25
2007-12-15 13:49:57 · answer #9 · answered by bobble head 3 · 0⤊ 4⤋