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.
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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.
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Liam Murphy
AuthorOh my bad! I make about 35k a year and file head of household. Kids are 5 and 7
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Amara Okafor
With that income and filing status, you'll likely qualify for Earned Income Credit too. Could be looking at a decent refund!
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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
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Yuki Tanaka
Is this legit? Seems too good to be true 馃
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CaptainAwesome
100% legit! I was skeptical too but it literally saved me hours of research and gave me the exact info I needed
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Yuki Tanaka
Just tried it - holy cow this thing is amazing! Wish I knew about this sooner 馃挴
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Esmeralda G贸mez
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
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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
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Liam Murphy
Authorfr? that would be amazing 馃槶
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Aisha Patel
dont forget about state taxes too, that could add more to ur refund depending on where u live
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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
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Liam Murphy
Authoryeah i started this job halfway thru the year
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