If you make 26k a year & married taking 4 deducts will you pay taxes; please read more inside!!!?

Question

If you make 26k a year & married taking 4 deducts will you pay taxes; please read more inside!!! My wife got a job making 26k a year she is taking 4 deductions but started late so will only make 15k this year; i am unemployed so as the husband i will not bring in any money; based off that she is a w2 worker will we have to pay taxes; total income will be 15k; any help would be appreciate if you have any questions please let me know; thank you

Answer 1

They may take taxes out of your wifes check, but if so then you will get them back when you file.  

Answer 2

There are a number of factors that you have not provided that are necessary before giving you a definitive answer.  The age of your dependents being the most important.  However at 15K you will not pay any federal income tax regardless of their age as you get $10,450 in standard deductions and $3,500 exemption for each dependent regardless of age. So you are covered for at lease the first $24K of income for federal income tax purposes.  

Answer 3

She won't owe any federal income tax, and depending on the age of the kids, might get something back when she files due to EIC.  I assume when you say "4 deducts" you mean there are four people in your family, you, your wife, and 2 kids.

If you would end up getting a job this year, the answer might change.

Answer 4

The mandatory taxes such as SSI, Disability, will be taken out of the gross wages. SSI is around 8.5% and disability Is under 5%. As for federal and state taxes very little fed and most likely no state taxes will be taken out. If you city or county has their own tax that is a possibility.

All in all you can expect around 8%-to 15% of your wages to be deducted....the fed taxes will most likely be returned after you file...plus you may be eligible for the EIC. It may best to plan ahead and save some money for a tax preparer..and don't fall for the tax loan gimmick. The tax preparer would take some of your return for your money right away.

Answer 5

Are you saying she claimed 4 allowances on her W-4 or are you saying you have 4 tax deductions (the two of you plus two kids)?  

If you have two kids to declare, you have no tax worries what so ever and you will get a substantial refund no matter what she has withheld.

If you are saying you have no dependents but that she claimed 4 allowances on her W-4 and therefore might not have enough withheld, you still probably don't have anything to worry about.  As a married couple, you personal exemptions and standard deduction will make the first $18000 or so non-taxable (assuming neither of you are a dependent of anybody else).

Answer 6

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