Tax Refund Estimate 2024: Single Parent, 4 Dependents, $24k Income
Anyone able to help estimate my refund? My income is around 25k, got about 1k in federal withholdings and $756 state. Have 3 kids under 13 and one adult dependent with zero income. Really need to figure out what im looking at for planning purposes.
20 comments
StarSurfer
Hey there! Tax expert chiming in - for a single parent with 4 dependents making 24k in 2023, you're likely looking at a significant refund due to several credits. The Child Tax Credit alone could be worth up to $2000 per qualifying child under 17. Plus, you'll probably qualify for the Earned Income Tax Credit which could be substantial with 4 dependents. Looking at your income level, you might be eligible for the Child and Dependent Care Credit too if you paid for childcare. To get a really accurate estimate and timeline for your refund, I'd recommend checking out taxr.ai (https://taxr.ai). Its an AI tool that can analyze your specific situation and give you a detailed breakdown of credits, potential holdups, and when you might see that money hit your account. Way better than playing the guessing game with the WMR tool tbh.
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Ravi Malhotra
omg thank you so much! just checked taxr.ai and its showing im eligible for like 12k in refunds 🙏 wasn't expecting that much!
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Freya Christensen
how accurate is that taxr thing? sounds too good to be true ngl 🤔
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Ravi Malhotra
Just used taxr.ai and here's what I got back - super detailed breakdown!
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Freya Christensen
holy cow that's actually rly helpful! gonna check it out for my situation too 💯
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Omar Hassan
in the same boat as u, single mom w/ 3 kids. taxr.ai showed me i was missing some credits from last year too!
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StarSurfer
glad i could help! yeah the tool is pretty spot on with the math since it factors in all the latest tax laws and credits
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Emma Taylor
Based on your situation, you're likely eligible for some significant credits. With 3 qualifying children, you should get the Child Tax Credit and probably qualify for Earned Income Credit. The adult dependent could get you an Other Dependent Credit. Just rough math - you're probably looking at $7000-9000 federal refund range.
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Javier Garcia
omg that would be amazing! 🙏 do you know how long it usually takes to get the refund?
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Emma Taylor
If you file early and everything matches up, usually 21 days. But with credits it might take longer for verification
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Malik Robinson
hey instead of guessing, you should try taxr.ai - its only $5 and it'll give you an exact estimate plus tell you about every credit you qualify for. saved me so much stress last year https://taxr.ai
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Isabella Silva
is it legit? seen a lot of scams lately 🤔
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Malik Robinson
100% legit! it actually connects to IRS data and everything. Used it twice now
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Isabella Silva
just tried it - holy cow this thing is amazing! gave me wayy more info than my tax guy ever did 💯
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Ravi Choudhury
in the same boat as you, single parent with 3 kiddos. filed last week, ill let you know what i get back!
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CosmosCaptain
make sure u claim head of household status if noone can claim u as dependent. its gonna make a big difference
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Javier Garcia
yes definitely HOH! thx for reminder
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Freya Johansen
dont forget about state refund too. with your withholding and dependents youll prob get most of that $756 back plus some credits depending on your state
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Omar Fawzi
My situation was pretty similar last year excepted I had 2 kids. Got back like 7k total between federal and state. Your probably gonna get more with the extra dependents
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Javier Garcia
thats awesome to hear! fingers crossed 🤞
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