does anyone

[turnanewpaige]

know much about taxes? he took a second job only part time at the end of the year and only grossed about 2000 for the year from it but they didnt give him a w-4 so he was single 0 exemptions....we are worried that is going to keep us from getting a good return., keep in mind he has a full time job grossing about 33,000 claiming married 2.  If

Comments

[spracker]

It shouldn't make much of a difference at all, especially if you have 2 dependents!! (That will give you what , like almost a $7000 tax credit?)

I don't know a *ton* about taxes but I have been helping my boyfriend with his the past few years, and earlier on he did have some 1099 forms with NO taxes taken out. I'd say on average they take about 20% for federal taxes on what you earn. So 20% of 2000 would be about $400 he "should" have paid. But like I said with the exemptions of the 2 children, as long as he had taxes taken out of his FT job all year it shouldn't make too much of a difference.

[turnanewpaige]

we only have Paige as a dependent, he claims me too. We don't get to claim his other child because his ex is a money hungry......yeah you know.

[spracker]

I think you'll be okay though.. You get like $3000 credit applied toward your "taxable income" for each dependent (you said 2 so I assumed kids, but if he is counting you that still counts as a dependent, he's probably filing "head of household"?)

http://www.hrblock.com/taxes/tax_calculators/index.html

That link is for H&R block's 2007 Tax Estimator. You already know what he made (and what he paid, if his W2 came in already, if not, look at the last 2007 pay stub) and you should get a good idea overall of what the refund will be. I'm not sure what specific income or credits you have aside from salary and dependents but if it's pretty clear-cut than their calculator should help you get a general idea of what you'll receive back :)

[spracker]

and if the link I just gave doesn't cut it for ya, the 2007 tax table will show you what he will have needed to pay in taxes for 2007 but keep in mind you'll not be looking at the 33,000 rane because that's gross pay. You'll want to know what his AGI (Adjusted gross income ) is, after the exemptions. If you ONLY are claiming yourself and the child under his, than you'd subtract the $6,000+ from his income and also I believe he can count himself as an exemption, (the standard deduction is like $8,500 for single or married filing separately). So once you add that to the $6,000.. that would take like $15,000 I believe off of the gross income making his AGI about $18,000. I could be wrong on that but I think that's about right. I don't have any dependents ("exemptions") just myself so I get the standard deduction. Sorry if this sounds confusing, it's a lot easier to explain if all the numbers are in front of you. I'm a visuals person

[wtmommy]

When you claim single and 0 they take out more taxes than when you claim dependents. If anything that will give you more taxes back as long as it didn't throw you into a higher tax bracket.

[turnanewpaige]

the tax brackets are what im worried about, he makes about 33 at the full time job and only made like a 2 grand from the part time, so i dont know if that will put us in a new bracket or not.