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If you went exempt all year and have 4 dependents including your self will you get money back?
If you went exempt from withholding taxes all year and have four dependents, whether you'll receive a refund depends on your total income and tax liability. If your income is low enough or if you qualify for certain tax credits, you may receive a refund despite not having any taxes withheld. However, if your income is high and you owe taxes, you might end up having to pay rather than receive a refund. It's important to calculate your tax liability accurately to determine your situation.
What else can I help you with?
How much money do you get back on income tax for a 2 month old?
They can be claimed as a dependent as long as they were born prior to January1st. Extra dependents will reduce your tax liabilities but it varies from person to person based upon income and other factors.
How do you know whether to claim 0 1 or exempt for taxes?
If you claim 0 - you will be taxed the most. If you claim 1 (which is yourself) you will presumably be taxed the right amount and break even when tax time arrives. However, claiming exempt means that you are exempt from paying taxes and that would require you to be WELL below the poverty line, making little to no money at all. You would have to figure out what the amount of income is that allows one to be exempt, I don't know the figure. Many people suggest claiming 0 to be on the safe side and just get the money back from the government when you file taxes. Others say, claim 1 and don't allow the government to have a tax-free loan with your money! I would claim 1, see how much is withheld and look at a tax table to see what the amount of money is that should be withheld and determine if claiming 1 will get you there. If it won't, then you'll wind up owing and you don't want that, so then change it to 0 and you should be fine. As for exempt there are very few people who qualify for tax exempt status. Chances are, you're not one of them.
How much money will you get back in taxes while in school?
It is virtually impossible to answer this question without specific details. Your tax return will depend on how much money you made and paid in taxes throughout the year. It will also vary if you have dependents, if you are claimed as a dependant, if you are married, have a mortgage, are self employed, and if you claim credits such as the hope credit.
If you are claiming 0 dependents does this mean you will be getting a larger amount of income tax?
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.
About how much should you get back in taxes if you make 8 dollars an hour and you are single?
That depends on how many dependents that you claimed during the time that you drew pay.
Is it possible to get money back on a tax return if self employed with 4 dependents?
Yes, if you have overpaid tax then you should get a tax rebate, however the number of dependants is not usually taken into account.
Can you claim 0 on your W-4 and then claim 1 or more dependents when you file for the year?
yes if you claim ) they take more money out of your check then you'll get back any overpayment when you do your tax return
How much should you withold on your w4?
if you claim zero on your w4, they will take the most taxes out of you. If you have dependents and you add them on when you do your income taxes, you will get that money back. even if it is just you, you should claim zero instead of one, then at income tax time you will not have to pay in, you should get back what you overpaid instead. The more dependents you put on your w4, the less taxes they will take out of your check, but at income tax time, if they did not take out enough you will have to pay in. And like me, if you like a big, big check all at once you want to claim zero, its like a way of saving money, and you get the money back at income tax time to do something big with.
If you make under 25000.00 a year and are head of household with two dependents do you get money back from income tax?
This could be possible if this is earned income but you will know the numbers until you have completed your 1040 federal income tax return correctly.
How much money do you get back on income tax for a 2 month old?
They can be claimed as a dependent as long as they were born prior to January1st. Extra dependents will reduce your tax liabilities but it varies from person to person based upon income and other factors.
Impairative sentence with levy in it?
The government feels it has the right to levy money from its citizens to spend money on various programs, including paying back interest on the central bank's printed money.
How do you know whether to claim 0 1 or exempt for taxes?
If you claim 0 - you will be taxed the most. If you claim 1 (which is yourself) you will presumably be taxed the right amount and break even when tax time arrives. However, claiming exempt means that you are exempt from paying taxes and that would require you to be WELL below the poverty line, making little to no money at all. You would have to figure out what the amount of income is that allows one to be exempt, I don't know the figure. Many people suggest claiming 0 to be on the safe side and just get the money back from the government when you file taxes. Others say, claim 1 and don't allow the government to have a tax-free loan with your money! I would claim 1, see how much is withheld and look at a tax table to see what the amount of money is that should be withheld and determine if claiming 1 will get you there. If it won't, then you'll wind up owing and you don't want that, so then change it to 0 and you should be fine. As for exempt there are very few people who qualify for tax exempt status. Chances are, you're not one of them.
How much money will you get back in taxes while in school?
It is virtually impossible to answer this question without specific details. Your tax return will depend on how much money you made and paid in taxes throughout the year. It will also vary if you have dependents, if you are claimed as a dependant, if you are married, have a mortgage, are self employed, and if you claim credits such as the hope credit.
Can the IRS take your workmans comp payout to pay back taxes?
No. Workman's Compensation is exempt from levy.
How do you get all your taxes back if you claim 1?
By making an amount so low that you're exempt from taxation.
If you are claiming 0 dependents does this mean you will be getting a larger amount of income tax?
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.
Do I have to pay this money back?
Do I have to pay this money back
