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If you file three dependents on income tax how much money are you eligible to get for each dependent?
Wiki User
∙ 15y ago
The "standard deduction" is $5150 per person. That is the amount you reduce taxable income by...the amount that saves you depends on your own personal tax situation and rate you would pay. It's entirely possible, especially if you don't make much or have lots of other dedcutions, that a (or an additional) deduction makes no change.
Wiki User
∙ 15y ago
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Do you have to pay taxes if you are low income?
The answer depends on how much money you earned, your source of income, and your number of dependents, if any. You may be eligible for a tax credit under certain circumstances. Your best bet is to call the IRS and ask.
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 much money will you receive for a one-year-old dependent when you file your taxes?
Without having your filing status (Single, Married Filing Jointly, etc.) and income, it's not possible to determine your tax benefit. In general terms, your one-year-old dependent is entitled to a dependent exemption. That exemption reduces your income by $3,650, in addition to whatever other exemptions (your personal, your spouse) you have. Also, your child may reduce the amount of tax through certain credits (such as child/dependent care expenses). Furthermore, depending on your income and filing status, you also may be eligible for other credits such as earned income.
How much money do construction workers have to pay for taxes?
Presumably you mean income taxes. Basically everyone pays the same income taxes, a varying percentage of earnings dependent on their net income and situation. The occupation is irrelevant. That said, the amount of income tax actually paid depend on the actual taxable (not all income is taxable) income earned (including things like interest earned, etc), the deductions and exemptions of the recepient (things like maritial status, # of dependents, etc.), and if you consider State taxes, where they are earned or where the individual lives.
How much money do you have to make to be eligible for earned income credit?
If you are a qualified taxpayer for the EITC you can get $ 2 EITC if you have at least $ I but less than $ 50 qualifying earned income if the amount from the worksheet $ 1 to $ 50.
What are exemptions?
They are amounts of money that taxpayers can claim for themselves, spouses, and any eligible dependents that will reduce their taxable income.
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
Do you have to pay taxes if you are low income?
The answer depends on how much money you earned, your source of income, and your number of dependents, if any. You may be eligible for a tax credit under certain circumstances. Your best bet is to call the IRS and ask.
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.
What is a free income tax estimator?
Free income tax estimator is a calculator that you put basic information into. Yearly income, federal tax withheld, number of dependents. Then it will give you an estimate of your refund or if you owe money.
Neutrality of money-hypothesis that the level of real national income is dependent on the level of money stock-economics?
False. The right answer is ,... the real national income is independent of the level of the money stock
How much money will you receive for a one-year-old dependent when you file your taxes?
Without having your filing status (Single, Married Filing Jointly, etc.) and income, it's not possible to determine your tax benefit. In general terms, your one-year-old dependent is entitled to a dependent exemption. That exemption reduces your income by $3,650, in addition to whatever other exemptions (your personal, your spouse) you have. Also, your child may reduce the amount of tax through certain credits (such as child/dependent care expenses). Furthermore, depending on your income and filing status, you also may be eligible for other credits such as earned income.
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 should you get if you give your baby as dependent to another person to file taxes?
$3500 is the exemption for each dependent. $1000 is the child tax credit for kids under age 17. For kids under 17 that are your dependents you qualify for both the exemption and the credit. Note: Only the person filing the child as a dependent will receive the money.
How much money do construction workers have to pay for taxes?
Presumably you mean income taxes. Basically everyone pays the same income taxes, a varying percentage of earnings dependent on their net income and situation. The occupation is irrelevant. That said, the amount of income tax actually paid depend on the actual taxable (not all income is taxable) income earned (including things like interest earned, etc), the deductions and exemptions of the recepient (things like maritial status, # of dependents, etc.), and if you consider State taxes, where they are earned or where the individual lives.
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.
Does your child need to file taxes for their Social Security money?
A child who is a dependent and earns income must file a return if they earned the specified amount of money as mentioned on the income tax form.
