2009 Income Tax Refund Estimator
Question: how accurate is H&R block tax calculator?
I went on H&R block and did their 2009 tax estimator and it says that DH and I should get back a 7,419 dollar refund. He claims 0 so that we can get a bigger refund at the end of the year. We have two children(a daughter that’s 2 and a son that’s 11 weeks) so far his gross income is 11,088(laid off some of the year) and he’s paid in 1075 in taxes. We do not pay for childcare, I’m a SAHM, does this sound accurate? We really want to have a big refund since we are trying to pay cash for him a new(used) car
Answer: last two years it been with-in $20 so i’d say it pretty close.
16 Tax Deductions You Don’t Want to Miss
CBS Moneywatch – To Get the Biggest Possible Refund, Start Looking into These Loopholes Now. First of all, the IRS has a gift for you: an extra three days to file your returns! Individual taxpayers will have until Monday, April 18, to file their returns. The reason: Friday, April 15, is a legal holiday in the District of Columbia, and because D.C. holidays affect tax deadlines in the same way …
Individual Income Tax Estimate for 2010, 2011
Free Tax Filing For 2010
Question: Will we qualify for $8000 first time home buyer credit?
We purchased a house last year (May of 2008). Filed the taxes already and got $7,500 tax credit loan from the government for first time home buyers, it’ll have to be paid off interest free for 15 years beginning 2010. Since the stimulus bill passed and now they are saying that first time home buyers with certain incomes will get $8,000 that you don’t have to pay back, will we qualify for this? Our house was purchased at a date that’s included in the stimulus for this year. Will we just get $500 and won’t have to pay anything back now? Or do we not qualify for this new $8000 at all? Anyone know anything about this?
Answer: The $8000 deal is for 2009 only.
Your May 2008 purchase is only eligible for the $7500 loan.
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2010 free tax e-filing.mov
2009 Tax Refund Estimate Calculator
Question: Unemployment and Taxes?
I have been on unemployment for the entire year of 2009. I get $220 (after taxes) a week and I pay taxes (10%) on that. I also have a child. So $220 * 52= $11,440 in unemployment. Will I get a refund this year? Her father only earned about 7k this year and we are trying to get the most back. I did the H&R Block calculator and it said I will get an estimated $5,400 back…which is about what I got last year when I worked…is this correct? Oh I forgot…we are not married and we file individually.
Answer: You’re likely going to get back less than $5,400. Your unemployment does not qualify for the EIC, so since that’s all the income that you had you won’t get that. You also won’t get anything under the Additional Child Tax Credit since that requires earned income and you have none. Ditto for the Making Work Pay Credit. About all that you will get back is some of the taxes that were withheld.
Assuming that the three of you live together, the father can claim the child and get the EIC and a refund of any income taxes that were withheld from his pay and probably something under the ACTC as well. At his income level though he won’t be able to file as Head of Household since that requires that you pay more than half of the cost of maintaining the home. That’s really a moot point at his income level though.
You:
Assuming total unemployment of $12,688 before taxes, $10,288 of that is taxable. Subtract the standard deduction and personal exemption of $9,350 and you’re left with $938 of Taxable Income. The tax on that is $94. You had $1,248 withheld so you’ll get $1,154 back.
Him:
Assuming the he claims the child to get the EIC, he’s looking at a refund of $3,389 plus whatever income tax was withheld from his pay, if any. His tax liability will be $0. He’ll get $2,389 from the EIC, $600 from the ACTC, and $400 from the Making Work Pay Credit.
Total refunds: About $4,543.
10 tasty tax tips for 2011
Taxes can squeeze your finances, but these tips will put more money in your pocket next year.
2010, 2011 Withholding Calculator Federal
2010 Tax Refund Cycle
Question: Did my taxes with Turbo Tax and was accepted on Jan. 29 2010, why does WMR keep saying February 16, 2010?
I filed electronically and I’m also having DIrect Deposit. I keep checking WMR daily to see if the date was updated but never changes. Anyone with same acceptance date get their refund back already? When I submitted them TT said February 12, 2010 and thats what refund cycle chart says. Thank you.
Answer: The WMR site allows an extra few days for your bank to process the return (some banks take up to 72 hours to process direct deposits from the IRS). This cuts down on calls from worried taxpayers.
Most likely, you will receive your refund on the 12th (Friday), but if you don’t, use the “call by” date on the WMR site, wait until that time and give them a call to see what is going on. Also, check the WMR site on Wednesday when it should update to reflect an actual deposit date.
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March 2010 Libertarian Perspective part 1.wmv
Filing Taxes For 2009
Question: When can you start filing taxes for 2009/2010?
Answer: Your 2009 federal tax return on Jan 15, 2010, IRS opens e-filing.
Your 2010 federal tax return until Jan 2011.
good luck!
Adding It Up: How Much Tax Does A Taxpayer Pay?
When it comes to taxes in the U.S., it’s the income tax — and the annual April 15 deadline for filing returns — that gets most of our attention. But that’s only part of the picture — there are property taxes and sales taxes, even taxes built into every cell phone bill. So how much do we pay? One…
What’s New for the 2009 Tax-Filing Season