0
What else can I help you with?
If I claim 2 dependents on my taxes, will I owe taxes?
Claiming dependents on your taxes can reduce the amount of taxable income you have, which may lower the amount of taxes you owe. However, whether or not you owe taxes depends on various factors such as your income, deductions, and credits. Claiming dependents alone does not determine if you will owe taxes.
Why do I owe 6000 in taxes?
You owe 6000 in taxes because the amount of taxes you owe is based on your income, deductions, and credits. If you didn't have enough taxes withheld from your paychecks throughout the year or didn't make estimated tax payments, you may owe money when you file your tax return.
Do I need to file a state tax return if I don't owe any taxes?
In most cases, you do not need to file a state tax return if you do not owe any taxes. However, it is recommended to check the specific rules of your state to be sure.
How can I write off bad debt from a personal loan?
To write off bad debt from a personal loan, you can claim a deduction on your taxes by reporting the debt as a loss on your tax return. This can help offset your taxable income and reduce the amount of taxes you owe.
How much do I owe in taxes, including the 6000 that I owe?
You owe 6000 in taxes.
If I claim 2 dependents on my taxes, will I owe taxes?
Claiming dependents on your taxes can reduce the amount of taxable income you have, which may lower the amount of taxes you owe. However, whether or not you owe taxes depends on various factors such as your income, deductions, and credits. Claiming dependents alone does not determine if you will owe taxes.
If you claim zero on your taxes will you still owe money when you file?
for best tax return claim 0 at work and when you file claim 1
What happens if you have the wrong number of dependents on your taxes?
If you claim the wrong number of dependents on your taxes, it can lead to either underpayment or overpayment of taxes. Claiming too many dependents may result in a larger refund initially, but could lead to penalties and interest if the IRS determines you owe more tax. Conversely, claiming too few dependents could mean you owe more tax than necessary, resulting in a smaller refund or a tax bill. It's important to accurately report your dependents to avoid these issues.
Is there a minimum amount you have to earn to claim your kids on your taxes?
No there isn't. If they fulfill the requirements to be dependents, you can claim them regardless of your income. However, if you don't owe any taxes, don't qualify for EIC, and don't qualify for the Additional Child Tax Credit, it probably won't do you a whole lot of good.
How much will you owe in taxes if made 56000 filing married filing jointly with no dependents in puerto rico?
I claimed 0 and made 56,000. Shoud I owe
Why do I owe 6000 in taxes?
You owe 6000 in taxes because the amount of taxes you owe is based on your income, deductions, and credits. If you didn't have enough taxes withheld from your paychecks throughout the year or didn't make estimated tax payments, you may owe money when you file your tax return.
Why would you owe taxes?
As far as federal taxes owed for earning a wage in the United States; anyone who has made over $8000.00 on a tax year has to file a tax return an in most cases will owe taxes to the government.Earning wages will cause you to owe taxes.
Can you get a return if you owe back taxes?
If you owe back taxes, the IRS will automatically deduct that amount from your refund. Depending on that amount, you can only receive what is left from that deduction.
How much federal taxes do you owe if you made 24000 this year?
Any dependents? If so, what are their ages? Lots more info to answer your question. Sorry.
Do I need to file a state tax return if I don't owe any taxes?
In most cases, you do not need to file a state tax return if you do not owe any taxes. However, it is recommended to check the specific rules of your state to be sure.
How can I write off bad debt from a personal loan?
To write off bad debt from a personal loan, you can claim a deduction on your taxes by reporting the debt as a loss on your tax return. This can help offset your taxable income and reduce the amount of taxes you owe.
What do I do if I missed the October 15 deadline for filing my taxes?
You are still required to file your return even if you missed the last deadline. I suggest that you file the return as soon as possible. If you owe additional taxes, you will be penalized and will pay interest on what you owe for not filing in a timely manner but it will only get worse. The penalties and interest are not too bad with interest rates as low as they are now. Even if you can't pay all that is due you still can stop some of the penalties by filing now. If you do not owe additional taxes you will not even have a penalty after October 15th. If you don't file the return the IRS will have no choice but to use the information they have on file to file the return for you. This means it will be filed as Single with dependents and no deductions. If you file it will probably be better than what they file in your place.
