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If you are claiming 0 dependents does this mean you will be getting a larger amount of income tax?
Wiki User
∙ 15y ago
You don't get income tax..you pay it. You may get a refund of OVERPAID estimated tax, like getting money back when you use a $20 bill to pay a $10 charge. You paid $12. It doesn't make a difference what you claim onyour W-4, the amount of tax you actually pay is determined by your 1040 return.....and that should reflect your actual number of dependents and exemptions. Claiming 0 on W-4 (or 1040) would mean you have the HIGHEST amount of tax withheld and on your return would pay more than if you had dependents.
Wiki User
∙ 15y ago
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On this year's income tax can you file dependents?
You can always file dependents on your income tax return, as long as you have dependents living in your home that you are responsible for supporting financially.
Can you file your mother on your income taxes?
The laws regarding claiming of dependents are complicated. Generally, a person who relies on you as their chief means of support (more than half) can be claimed as a dependent.
What are some factors affecting the amount of income tax you owe?
the amount you made plus the dependents claimed, amount of interest, charitable donations, medical, business expenses.
What is the benefit of claiming yourself as an exemption?
Each exemption is equal to an amount of income that is "exempted" from taxation. Hence it lowers your taxable income and therefore tax.
how much tax is owed for single no dependents with income of $50,000?
what will be the tax owed on $60,000.00 for single and no dependents?
On this year's income tax can you file dependents?
You can always file dependents on your income tax return, as long as you have dependents living in your home that you are responsible for supporting financially.
What are some factors affecting the amount of income tax you owe?
the amount you made plus the dependents claimed, amount of interest, charitable donations, medical, business expenses.
Can you file your mother on your income taxes?
The laws regarding claiming of dependents are complicated. Generally, a person who relies on you as their chief means of support (more than half) can be claimed as a dependent.
What are exemption's?
they are amount of money that taxpayers claim for themselves, spouses, and any eligible dependents that will reduce their taxable income. this is for a+ robert was here:p
What is the benefit of claiming yourself as an exemption?
Each exemption is equal to an amount of income that is "exempted" from taxation. Hence it lowers your taxable income and therefore tax.
how much tax is owed for single no dependents with income of $50,000?
what will be the tax owed on $60,000.00 for single and no dependents?
If I make 4,218 a month, what would my tax rate (net income) be with 4 dependents?
If I make 4,218 a month, what would my tax rate (net income) be with 4 dependents.
How much more money do I get for claiming 1 instead of 0 on my paycheck?
This cannot be determined without knowing your income as the calculation changes as income increases. For example if your annual income is $20,000 you will get a larger amount than you would if your annual income was $60,000.
What if I know the father is not claiming the right amount of income for child support he claims one job but not the other one?
take him to court dummy
How do you know which income tax form to file?
As far as getting started, you have to choose from Form 1040, Form 1040A, or Form 1040EZ. Choose the simplest form that fits your situation. Choose Form 1040EZ if your taxable income is under $100,000, you're filing Single or Married Filing Jointly, you and your spouse are under age 65 and not blind, you're not claiming any dependents, your interest income is $1,500 or less, or the only tax credit you're claiming is for earned income. Choose Form 1040A if your taxable income is under $100,000, you have capital gain distributions, you're claiming IRA or education-related deductions (educator expenses, student loan interest, tuition/fees) , or your tax credits, if any, are only for children/dependents, education, elderly/disabled, retirement, earned income, or making work pay. Otherwise, you're required to use Form 1040 if you're claiming itemized deductions, if you have certain types of income (self-employment, partnership, estate/trust beneficiary, unreported tips), your income is over $100,000, or you're reporting income from rental or sale of property, etc. Each of these three forms indicates any required attached forms or schedules. For example, 1040A and 1040 state "Attach Form 8917" for the tuition and fees deduction under adjustments to income.
How much of your federal income tax withheld do you receive back in tax returns?
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.
When you file for federal income tax will you get the same amount for your dependents no matter what state your in or does it differ from state to state?
FEDERAL income tax is governed by FEDERAL law and regulations- same everywhere. Different STATES may have different STATEtaxes.
