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140.00
Any dependents? If so, what are their ages? Lots more info to answer your question. Sorry.
Standard deduction can be about 20%. The taxpayer can opt to have more than the minimum tax deducted.
The "standard deduction" is $5150 per person. That is the amount you reduce taxable income by...the amount that saves you depends on your own personal tax situation and rate you would pay. It's entirely possible, especially if you don't make much or have lots of other dedcutions, that a (or an additional) deduction makes no change.
Depends on many things...especially how much was paid in and other deduction income considerations.....thats why a reutrn needs to be filed.
140.00
Any dependents? If so, what are their ages? Lots more info to answer your question. Sorry.
Deduction for 5750
Standard deduction can be about 20%. The taxpayer can opt to have more than the minimum tax deducted.
The "standard deduction" is $5150 per person. That is the amount you reduce taxable income by...the amount that saves you depends on your own personal tax situation and rate you would pay. It's entirely possible, especially if you don't make much or have lots of other dedcutions, that a (or an additional) deduction makes no change.
Depends on many things...especially how much was paid in and other deduction income considerations.....thats why a reutrn needs to be filed.
For taxpayer using the single filing status the 2009 exemption amount is 3650 and the standard deduction amount is 5750 for a total amount of 9350 free of federal income tax for the tax year 2009.
what will be the tax owed on $60,000.00 for single and no dependents?
For 2009, if you're Single with no dependents and income of less than $5,000, then you're not required to file. You'd be required to file if your income were at least $9,350. If income tax were withheld from you earnings in 2009, then you should file for a refund of all federal income tax withheld. Your income is zeroed out by your standard deduction of $5,700 plus your personal exemption of $3,650.
The amount of withheld federal income tax that is returned to you depends on a variety of factors. Your yearly income, marital status, number of dependents, and expenses are all used to calculate your tax return.
Everyone who has federal or state tax withheld from their income (Form W-2, box 2 and 17) should at least fill out a return to see if they are owed a refund. If so, they should file to get their money back. Since most children who are students are their parent's dependent (claimed as a dependent on their parent's tax return), I'm going with that assumption. All dependents have the same filing requirements, whether a student or not. If a student makes less than the federal standard deduction, they generally don't have to file unless they want a refund of federal or state taxes withheld from their pay. The federal standard deduction for a single person changes every year and is $5,800 for 2011. There may also be a requirement to file if the dependent has a significant amount of investment income (over $950). See IRS Form 1040 instructions for filing requirements for children and other dependents for more details. Remember that your state may have different filing requirements, so a person may be required to file a state return even though they aren't required to file a federal return.
Depends on the rank