How much will I expect for 2009's tax returns?

Question

By the end of this year (2008), I will make $19,000. How much will I expect from my tax refund? I live in Massachsetts and pay medical and dental insurance. Thanks!

Answer 1

It completly depends on how much tax is deducted from your paycheck each pay period.

If you are single filer-the first $6000 is tax free and then after that you will owe some federal tax. Also-if you pay for your insurance-sometimes that is considered 'tax free income' so it will be deducted off your gross income.

Check with your human resource manager - or whoever filed your W-4 . If you wish to get larger tax refunds have them adjust the witholding amount.  

Answer 2

A Nickel!

Answer 3

Based on the facts you present, it is safe to say you will either owe something or have a refund.

Answer 4

I'm not sure you understand just what a refund is.  Through the year you might have money withheld from your paycheck for federal income tax.  At the end of the year, you prepare a form called a tax return to calculate how much tax you owe total for the year, and compare that to what was withheld.  If you had more withheld than your total tax, you get the extra back as a refund.  If you didn't have enough withheld, you have to pay the rest rather than getting a refund.

What is taken out depends on how you filled out your W-4, and you don't say that.  The tax calculation depends on your filing status, dependents, deductions, credits, whether your dental and medical are taken out pretax or post-tax and how much they are, and whether you are a dependent, all info you don't give.  So there's no way to tell.

If you are single, no dependents, not a dependent, and put single/1 allowance on your W-4, then you'd probably get a refund of a few hundred dollars.