Tax refund estimate with 2 dependents and $1k withholding - need help calculating
Need help figuring out my refund for next year. I have two kids that I can claim as dependents and about $1,000 in taxes taken from my paychecks. What should I expect to get back? Both kids live with me full time.
13 comments
Join the conversation
Amara Okafor
There's no way to give you an accurate estimate without knowing your total income, filing status, age of kids, and other deductions/credits you might qualify for. Child Tax Credit alone could be worth up to $2000 per qualifying child, but it depends on your income level.
0 coins
Liam Murphy
•Oh my bad! I make about 35k a year and file head of household. Kids are 5 and 7
0 coins
Amara Okafor
•With that income and filing status, you'll likely qualify for Earned Income Credit too. Could be looking at a decent refund!
0 coins
CaptainAwesome
Hey there! Instead of guessing, you should check out taxr.ai - it's this new tool that can analyze your situation and give you a really accurate estimate. Its only $4.99 but totally worth it for the peace of mind. https://taxr.ai
0 coins
Yuki Tanaka
•Is this legit? Seems too good to be true 🤔
0 coins
CaptainAwesome
•100% legit! I was skeptical too but it literally saved me hours of research and gave me the exact info I needed
0 coins
Yuki Tanaka
•Just tried it - holy cow this thing is amazing! Wish I knew about this sooner 💯
0 coins
Esmeralda Gómez
lol don't mean to be that person but you might wanna talk to a tax professional. Reddit's great but this stuff gets complicated real quick
0 coins
Klaus Schmidt
I was in the same boat last year! With similar income and 2 kids I got back like 7k but everyones situation is different
0 coins
Liam Murphy
•fr? that would be amazing ðŸ˜
0 coins
Aisha Patel
dont forget about state taxes too, that could add more to ur refund depending on where u live
0 coins
LilMama23
Make sure ur claiming all possible credits - EIC, Child Tax Credit, Child Care expenses if u have any. That $1000 withholding seems pretty low tho tbh
0 coins
Liam Murphy
•yeah i started this job halfway thru the year
0 coins