I'm a single parent, how much within total will I gain this year for claiming my kid as a dependent?
I only enjoy one kid, will I get the traditional $1,500 or so, along beside an additional $900 for the toll rebate? This is my first time claiming a dependent, so i'm a little surrounded by the dark next to this.Answers: I'm afraid your question omit many obligatory details.
In general, claiming a dependent results contained by a $3,400 dependent exemption. If the child is under 17, a $1K child duty credit is also available.
You do not provide enough information to know if you will be eligble for the dependent thought credit or the earned income credit.
As of today, the rebate proposals are still up contained by the air. No one have any concrete information, as congress is still debating the measures.
Do u have to file second job if u only made 1300.00 in it?
Answers: yes, file free at
http://www.taxbin.com/
All income by all U.S. citizens is required to be reported each year. Sometimes, but not always, in the case of Earned Income Credit, it actually CAN increase your income tax refund.
Plus, if you have had more withheld than you needed to, that would also increase your refund.
Good Luck!
http://www.TaxEfilers.com
Yes you have to file listing ALL the jobs that you had.
I owe 5000 in taxes is it better to make payments yo the irs or use a credit card?
Answers: It depends on what the interest rate is on the credit card.
Read this: http://www.irs.gov/faqs/faq1-5.html
And this: http://www.irs.gov/pub/irs-pdf/n433.pdf
At the moment, the combined penalty and interest is 14%. That includes 8% interest and 6% penalty. The penalty will cap out at 25% or 4 years and 2 months of payments. It also costs $105 to set up the installment agreement.
If the interest rate on the credit card is less than what the IRS will charge, then use the credit card.
it's better to use credit so long as you don't pile up the interest charges. check your cut off date to maximize the 45day period