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How much is the tax return for a person who make 25,000 a year, married with a baby?

Unemployment Insurance and Employment Discussion

How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby chumo » Tue Dec 25, 2012 12:36 pm

(wife does not work)

Thank You Very Much :)
chumo
 
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How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby halley » Tue Dec 25, 2012 12:40 pm

Here you go you can try and do your own estimated tax calculations at this time in your life for this purpose since you are the only one that would know all of the needed necessary information at this time.
www.irs.gov website and use the search box for 2012 Form 1040-ES (OTC)
Estimated Tax for Individuals

http://www.irs.gov/pub/irs-pdf/f1040es.pdf?portlet=3

Copy and paste the below enclosed website address into your browser address bar for this purpose.

http://www.dinkytown.net/java/Tax1040.html

Enter your filing status, income, deductions and credits and we will estimate your total taxes for 2012. Based on your projected withholdings for the year, we can also estimate your tax refund or amount you may owe the IRS next April 2013.
In 2011, Federal income tax rates were scheduled to increase to pre-2001 levels, but the "Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010" left the existing tax brackets in place through 2012.
You probably can find an estimated tax calculator for your state income taxes by going to your state income tax department website and use the search box for estimated tax calculator at that time in your life.
I would hope that you do find the above enclosed information useful for your situation and good luck to you with this matter. 11/30/2012
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How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby burnard » Tue Dec 25, 2012 12:55 pm

Based on your information (assuming married couple under 65 and three exemptions), from form 1040ES -2012, I could estimate your tax refund as following:

$25,000 - $11,900 = $13,100 ($11,900 is your standard deduction on page 2 of 1040ES)

$13,100 - 3* $3,800 = $1,700, this is your taxable income. (exemption amount on page 2 of 1040ES)

Tax liability is $170 (formula is on page 6, schedule Y-1 of form 1040Es)

Non- refundable child tax credit reduces your tax liability to Zero.

You'll get back:

1/- Your federal withholding, if any.

2/- Earned income credit is about: $2,574 (page 60 of 1040-2011 instruction)

3/- Additional child tax credit is about: $830 (form 8812)


Link :

1040ES
www.irs.gov/pub/irs-pdf/f1040es.pdf


1040 instruction
http://www.irs.gov/pub/irs-pdf/i1040.pdf

Form 8812
www.irs.gov/uac/Form-8812,-Additional-… - August 04, 2012
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How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby fernand » Tue Dec 25, 2012 1:03 pm

married , one child, your non taxable income is $23300, leaving $1700 taxable, maybe income tax of $173
the child tax credit will wipe that out, you are eligible for EIC and the remainder of the child tax credit as additional child credit
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How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby elson » Tue Dec 25, 2012 1:06 pm

visit IRS.gov for info
visit library for books on taxes.

can b zero and on up.
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How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby layton » Tue Dec 25, 2012 1:30 pm

You could owe, or you could get a few thousand. There are alot of factors you did not mention, #1 being withholding.
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How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby uriel40 » Tue Dec 25, 2012 1:37 pm

There's a lot more that goes into it, but very possibly around $2800.
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How much is the tax return for a person who make 25,000 a year, married with a baby?

Postby diederich61 » Tue Dec 25, 2012 1:46 pm

There's a lot more that goes into it, but very possibly around $2800.
It depends. If they itemize it would cost more.
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