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You don't receive any thing back as a refund. You need to make about $12 to $15 thousand a year before you get a refund. Work harder !!!

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Q: How much money will you receive on your refund if you only made 1000 dollars?
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How much money does barbados make in a year?

1000 dollars year


Does a 14 year old sales associate at a chain department store who earns 1000 dollars per year need to file a Federal Income Tax Return?

For 2004, a 14-year-old would not need to file a federal tax return if he/she had only $1000 in earned (from a job, for example) income. If there is any bank interest or investment income, the answer becomes more complicated. He/she may want to file a federal tax return (1040EZ) to receive a refund of any federal tax withholding from the earnings.


What is the time value of money. How can time value of money be used in making financial decisions?

The time value of money is one of the corner stones of finance. It states that a dollar now is worth more compared to dollar later in time. And if you think about it, it is correct. Here is why: Imagine two situations: - you have a $1000 now in your pocket - you will receive $1000 in one year Lets say that you do NOT need the $1000 now or later; however you would like to have them. Now, if you had the money in your pocket today and you don't need them, what you can do is to invest them in the back and maybe you can earn couple of % interest on them (this will at least help you negate the effects of inflation). However, if you are to receive the money in one year, you will have to pass on the opportunity to invest and make some interest on them. Moreover, when you receive the money next year, they will be a $1000; however their buying power will be slightly less thanks to inflation. So to summarize - money now are worth more because they are at your disposal and they can earn you interest. Money later earn you no interest and suffer from inflation (alright, they gain from deflation too; however money in the bank do that too). This is a simple example but you can imagine in different terms - lets say a company receiving money to pay off debt today rather in a month, thus saving some interest costs.


If a person has a check dated on 1-4-2012 for 1000 dollars can we say that he has 1000 in his pocket now?

Technically the money is not in their pocket. The check must be deposited or cashed by the person it is written out to, or otherwise endorsed. If the payee does not cash or deposit the check, they cannot give it out like bills of currency. When the check is deposited, the money is taken out of the check writer's account and deposited to the person it is written out to. If you cash it instead, the institution gives you their money and takes money out of the check writer's account.


What does 2.5K mean?

It has two meanings, depending on context. It can mean 2.5 kilometers (a kilometer is 1000 meters), or it can mean 2,500 dollars.