0
It depends on your own personal situation, and obviously you have to have the income to warrent it, and the higher your tax bracket the bigger bang for the buck...but generally/rule of thumb...a dedendent is worth @$750 in tax savings.
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
How much money do you get back in taxes for being a college student?
There are other factors, such as how much you earned, whether someone can claim you as a dependent and how much money was withheld.
Married filing jointly claiming foster child on taxes how much for dependent?
Exemption amount for each ones exemption on the 1040 federal income tax return for the tax year 2009 was 3650 for each qualifying dependent.
How much money will you receive for a one-year-old dependent when you file your taxes?
Without having your filing status (Single, Married Filing Jointly, etc.) and income, it's not possible to determine your tax benefit. In general terms, your one-year-old dependent is entitled to a dependent exemption. That exemption reduces your income by $3,650, in addition to whatever other exemptions (your personal, your spouse) you have. Also, your child may reduce the amount of tax through certain credits (such as child/dependent care expenses). Furthermore, depending on your income and filing status, you also may be eligible for other credits such as earned income.
Do you have to file taxes if you were unemployed?
It depends on your filing status and how much income your total was.
How much does being a dependent affect you on your tax return?
Being a dependent of someone else for tax purposes decreases the amount of money you will get from the government. This mean you are not supplying the majority of your living expenses, someone else is and they should be able to use you as a dependent on their taxes.
How much money should you get if you give your baby as dependent to another person to file taxes?
$3500 is the exemption for each dependent. $1000 is the child tax credit for kids under age 17. For kids under 17 that are your dependents you qualify for both the exemption and the credit. Note: Only the person filing the child as a dependent will receive the money.
Is filing taxes online faster?
Yes, it is much faster and also you will get your money back quicker. If you do your taxes online you will be able to get it direct deposited.
How much money do you get back in taxes for being a college student?
There are other factors, such as how much you earned, whether someone can claim you as a dependent and how much money was withheld.
Married filing jointly claiming foster child on taxes how much for dependent?
Exemption amount for each ones exemption on the 1040 federal income tax return for the tax year 2009 was 3650 for each qualifying dependent.
How much money will you receive for a one-year-old dependent when you file your taxes?
Without having your filing status (Single, Married Filing Jointly, etc.) and income, it's not possible to determine your tax benefit. In general terms, your one-year-old dependent is entitled to a dependent exemption. That exemption reduces your income by $3,650, in addition to whatever other exemptions (your personal, your spouse) you have. Also, your child may reduce the amount of tax through certain credits (such as child/dependent care expenses). Furthermore, depending on your income and filing status, you also may be eligible for other credits such as earned income.
I am married my husband is also earning but number of dependent is zero then how much you have to pay tax?
Taxes are figured on how much money you & your husband make per year.
Do you have to file taxes if you were unemployed?
It depends on your filing status and how much income your total was.
How much does being a dependent affect you on your tax return?
Being a dependent of someone else for tax purposes decreases the amount of money you will get from the government. This mean you are not supplying the majority of your living expenses, someone else is and they should be able to use you as a dependent on their taxes.
How much claim your adult sister taxes?
Unless you totally support her and she is your dependent you can't claim her on your taxes.
How much is 350.00 plus taxes?
That is dependent on the rate of tax in question.
How much would a 16 year old pay for taxes on $800 if her parents claim her as a dependent?
where is your "Tax Bracket Calculator? and if I may why is this site so hard to use? How much would a 16 year old pay for taxes on $800 if her parents claim her as a dependent? depends on the year. in years past, if you didn't make more than 3000 in a calender year you wouldn't have to pay taxes on the money.
How much will you owe in taxes if made 56000 filing married filing jointly with no dependents in puerto rico?
I claimed 0 and made 56,000. Shoud I owe
