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How much of a tax return will i get

how much of a tax return will i get

4 Responses

Bash Limpbutt's Oozing Cyst©

39 mos, 1 wk ago

You don’t "get" a tax return, you FILE a tax return. A tax return is the forms and schedules that you send to the IRS and/or your state tax department.

The benefit that you get from claiming a dependent varies between $0 and and several thousand dollars.

Your net Federal income tax liability is a bit less than 15%. Your marginal rate may be 25% but your net is nowhere near that much. Your total tax liability including State income taxes, CA SDI, and FICA taxes approaches 25%

but many of those won’t be affected by claiming dependents. Only the Federal and State income taxes would be affected. The $5,600 or so that you pay in FICA and CA SDI are not affected by the number of dependents that you can claim.

You have not provided enough information to say if you could claim him or not. If you provide more than 50% of his support and he has less than $3,650 in gross income for 2009 (excluding only non-taxable Social Security) you might be able to. That would save you around $900 in Federal income tax.

References :

Category: Taxes

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