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You wouldn't get less money than you would if you claimed yourself. However if claim someone else you would expect more money, especially if you are claiming children. Being claimed as a dependent is a good thing a benefit. Anyone can only be claimed ONCE. That once can be on your own return, or on someone elses. If someone else claims you, so you can't on your own, your tax due (refund available), if any - will be changed by the loss of that deduction. (Pay more or refund less).
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Can money donated to charity be claimed on a tax deduction sheet in the US?
It depends which state, what charity, time of the year, and the purpose of the charity. Most often charity money can be claimed on a tax deduction sheet in the U.S.
What is the propose of income tax brackets?
Income Tax brackets exist to apply more taxes (as a percentage) to those who have more money to pay, and less taxes to those who have less money.
How long can I be claimed as a dependent on my parents tax returns?
Dependent on tax teturns
I had to pay money to state and federal last year. Can that money be claimed on this years taxes?
how much is $60 add tax You can deduct the 2009 State Taxes you paid in 2010 on Schedule A (if you itemize). Federal tax payments are not deductible according to the IRS Website
Are taxes more with making less money or more money?
Much less making less money. About 50% of the people in the United States pay no income tax at all, and a large percentage of them actually get money back in the form of a earned income credit.
Can money donated to charity be claimed on a tax deduction sheet in the US?
It depends which state, what charity, time of the year, and the purpose of the charity. Most often charity money can be claimed on a tax deduction sheet in the U.S.
What is the propose of income tax brackets?
Income Tax brackets exist to apply more taxes (as a percentage) to those who have more money to pay, and less taxes to those who have less money.
Does a child have a right to some of their parents income tax if they are claimed?
No, because that makes the child a dependent for tax purposes.
Is car donation tax write off the only tax write off that can be claimed on federal taxes?
No there are many different tax deductions that can be claimed on your tax return. For a list of them you can visit www.irs.gov.
Do personal injury awards have to be claimed on income tax?
This can vary depending upon the award and you should talk to your tax adviser about this. If the money is for lost wages, psychological injuries and punitive damages, it is taxable.
If your parent claimed you on their taxes you supported yourself they didn't how do you get them to pay the money they owe?
Tell them to give you half of the money or you will start doing your own taxes. If you are under 18 yrs of age. then you have no say in the matter you are a kid and the money is your parents to do with as fit. You can only be claimed on someone elses tax return if you qualify as their dependent and you don't claim yourself on your own one. So, file your own tax return. However, you may end up paying taxes. You do not get money back from tax because you spent it on yourself.
How long can I be claimed as a dependent on my parents tax returns?
Dependent on tax teturns
I had to pay money to state and federal last year. Can that money be claimed on this years taxes?
how much is $60 add tax You can deduct the 2009 State Taxes you paid in 2010 on Schedule A (if you itemize). Federal tax payments are not deductible according to the IRS Website
What is is the propose of taxing?
Income Tax brackets exist to apply more taxes (as a percentage) to those who have more money to pay, and less taxes to those who have less money.
Are taxes more with making less money or more money?
Much less making less money. About 50% of the people in the United States pay no income tax at all, and a large percentage of them actually get money back in the form of a earned income credit.
Can you claim a runaway as a tax dependent?
if they are living with you then they can be claimed
How much taxes are paid on lottery winnings in Kansas?
Tax is withheld on all winnings in the Kansas lottery over 5,000 dollars. If less than that is won, the amount won should be claimed on tax forms.
