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| can someone give me a rough estimate of a tax refund? Posted by Batdawg 40k in earnings  on 1/22 at 5:42 pm10k paid in taxes Filed 0 Single Reply • Back to Top |
quote: Rough rough (and I mean rough) estimate: income $40,000 Standard deduction: $5,950 Taxable: $34,050 Taxes due: $4,669 Paid: $10,000 Refund: $5,331 ETA: assuming no capital gains taxes to be paid, credits or additional taxable income deductions of any kind This post was edited on 1/22 at 6:03 pm Reply • Back to Top |
| we can, but not twice. You double postin sumbitch Reply • Back to Top |
quote: Damnit, I've been taken advantage of!  ETA: Just saw he double posted. This post was edited on 1/22 at 6:07 pm Reply • Back to Top |
| Sorry didn't mean to. I didnt have 401k or insurance at work also. Thanks Reply • Back to Top |
| Just go to the IRS site and get the 1040 EZ form if all your tax info consists of what you said. \ 40,000-9,750=30,250 Taxable Income 10,000-4,109=5,891 Reply • Back to Top |
quote: Since He's claiming single with no dependents he wouldn't receive the additional $3800 deduction which leaves him with only the $5950 standard deduction right? Not sure but I think that's right because I file single with no dependents and only receive the $5950 standard deduction. Reply • Back to Top |
| No, you get to take the $3800. You have been filing wrong unless someone claims you as a dependent. Reply • Back to Top |
| I'm confused??? Reply • Back to Top |
quote: Been using turbotax... I think your correct because after looking at my tax refund spreadsheet and I have $9750 factored into my deduction. ETA: but if his deduction is $9750, his taxes due would be $4099 giving him a refund of $5901 (10000-4099)... This post was edited on 1/22 at 7:57 pm Reply • Back to Top |
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quote: Should have claimed exemptions during the year. A refund that big always means there was a mistake. Ideally you should have a small amount due to the IRS on April 15. Reply • Back to Top |
| I filed 0. They take out a lot of tax during the year when you do that. That's why I get more back, I paid more throughout the year than if I would have filed 0. Reply • Back to Top |
quote: Son, do you realize that the government has had this money to use for a whole year without paying you one red cent in interest ? Reply • Back to Top |
| I'm pretty sure you can go into TurboTax yourself now. Your return is very simple to do. Reply • Back to Top |
| how does one claim exemptions if they're single and no dependents? Reply • Back to Top |
quote: Honestly, I'm surprised that the government still gives out "Refunds" Reply • Back to Top |
quote: Fill out a W4 form and give it to your employer. The overpayment is so big bc he filed 0 for whatever reason. As has already been mentioned this results in giving the government an interest free loan. Reply • Back to Top |
| So what's so wrong with filing zero? I don't care about the government as long as I get my money back. Reply • Back to Top |
quote: In that case can I borrow $5000 and pay you back next January? Reply • Back to Top • Refresh |
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