How Much Money Do You Get Back In Taxes If You Make $28000 A Year?
November 22nd, 2009 | 
Author: I calculated my earnings I will make for this year, so how much money will I get back in taxes?
I am going to make 28000 this year….
I am sooo curious….
Please and thankyou in advance!
Posted in Back Taxes Owed | 
Tags: $28000, Back, Back Taxes, Earnings, How Much Money, Money, Money Back, Much, Taxes, Thankyou, Year
That depends on your situation, like how you fill out the W-2 form , your filing status, and the number of dependents you claimed. If you didn’t have a lot of money taken from your paycheck , then most likely you will have to owe money at the end of the year.
Hope this helps !!!
Joseph D : )
No possible way to say. Far too many variables involved. Any refund is the difference between your tax liability (which is based upon many factors) and how much tax is withheld from your pay.
The goal isn’t to get a big refund, but come as close to breaking even as possible. A large refund just means that you loaned your money to the government all year interest-free. That just does not make sense financially.
I don’t think you understand what a refund is. During the year, money is withheld for tax from your paycheck. At the end of the year you calculate what you owe all together – if you paid in too much, the extra is refunded. If you didn’t pay in enough, you have to pay the rest.
If you are single, no dependents, take a standard deduction, and don’t have any credits, then your federal income tax on $28,000 would be $2460. Look at the number in box 2 of your W-2 – that’s what was withheld. If it’s more than $2460, subtract 2460 from box 2 – that’s what you’ll get back.
We can’t possibly tell you how much you will “get back” because it’s up to you to decide how much your employer holds out for you each week. Your refund will be the amount you had withheld, minus the amount of tax you’re supposed to pay. The amount of tax you have to pay depends on how much you make, how many deductions you get to claim, and how many credits you are entitled to.
Here’s a good site where you can plug in various numbers and play around with them to see what your bottom line might be:http://www.paycheckcity.com/
If you don’t pay any taxes during the year, you will owe at the end of the year. If you pay too much tax during the year, you will obtain a refund. If you pay exactly the right amount of tax during the year, you will neither receive a refund nor owe any money.
It depends your particular situation. Such as how you fill out the W-4, your filing status, and number of dependents. If you don’t have enough taken out of your paycheck you will owe at the end of the year.
It depends on your number of withholding. If you have 0 then you might get a lot, and if you have 2 then you may have to pay.
DEPENDS.
on filing status, on W-4, on dependents, on earnings, etc.
go to one of online calculators, such as IRS at
http://www.irs.gov