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I have 2 kids and am married and I work part time, no house, i rent and i dont own anything. I get back around $1500 for my tax refund. Does that sound right?

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Anonymous

Asked by Anonymous at 2:39 PM on Jan. 13, 2011 in Money & Work

Answers (8)
  • i dunno
    Anonymous

    Answer by Anonymous at 2:41 PM on Jan. 13, 2011

  • It depends on how much you paid out in taxes thru out the year. The more exemptions you claimed thru out the year the less you get back for tax returns. I'm a tax preparer, but being that I am, I can tell you there are more factors that go into figuring a number than how many kids you have and that you work part time.
    DomoniqueWS

    Answer by DomoniqueWS at 2:55 PM on Jan. 13, 2011

  • we make a combined $70,000/year
    Anonymous

    Comment by Anonymous (original poster) at 2:56 PM on Jan. 13, 2011

  • And how much did you pay in federal taxes?
    Candi1024

    Answer by Candi1024 at 3:25 PM on Jan. 13, 2011

  • $1,500 for $70,000 a year does sound a little low. Do you and your husband file jointly or seperately?
    poptart0325

    Answer by poptart0325 at 3:29 PM on Jan. 13, 2011

  • Depends on what excemptions you are claiming, so in other words how much they have taken out all year in federal taxes. Deductions will help you lower your basic income, and how much they would take from you in taxes. Then they take out what you owe from what you have paid throughout the year, and whatever is left you get back.
    -LovingMamma-

    Answer by -LovingMamma- at 3:36 PM on Jan. 13, 2011

  • Yeah I guess if you over paid your taxes that would make sense.
    Erica_Smerica

    Answer by Erica_Smerica at 7:07 PM on Jan. 13, 2011

  • If you do, then you need to change your withholdings. Why would you want the government to use your money without paying you interest?
    rkoloms

    Answer by rkoloms at 8:24 PM on Jan. 13, 2011

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