How much do you get back in taxes if you claimed a dependent over 30 years that lives with you?

Answer 1

And that person qualifies as a dependent...doesn't file their own return or get claimed by anyone else..etc.

So, I guess your asking for someone to calculate your tax return....and that's all you figure is needed to do so....and it makes sense to you this is a good place to do it? Wow...

How much tax reduces your before tax income depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings/reductions as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax.

The amount of tax you get back depends on how much you paid in in estimated payments or withholding.

The amount of tax withheld or eventually paid also depends on may things...obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be needed), as well as your filing status, number of dependents and other deductions (like interest paid on a home, charity, medical expenses, etc). For withholding, all these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to, and then properly reporting them on your 1040.

Finally, there are a number of different legal ways for the payroll provider to calculate certain aspects of the amount to withhold...but overall they make only a small difference.

Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty). Again, adjusting your W-4 is the way to correct for any of these circumstances