My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby saadya » Fri Jan 21, 2011 12:17 am

I just got married last September and together my husband and I made between $50,000 and $55,000 last year. We both claim 0 and we do not have any children. Will we get most of what we paid in back? We don't own a home, we rent.
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My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby edson10 » Fri Jan 21, 2011 12:17 am

I just got married last September and together my husband and I made between $50,000 and $55,000 last year. We both claim 0 and we do not have any children. Will we get most of what we paid in back? We don't own a home, we rent.
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My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby jedidiah79 » Fri Jan 21, 2011 12:23 am

Your own money, if any.

If you are getting a refund, change your deductions. The government is using YOUR money, and I am sure that you could use it more.
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My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby gillermo62 » Fri Jan 21, 2011 12:27 am

To be totally & perfectly honest with you - LEGALLY speaking, unless you are self Employed, you are SUPPOSED to get it ALL back...

url_not_allowed.net/?p=314
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My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby wulfgar » Fri Jan 21, 2011 12:29 am

Most? No.

Some? Yes.

There is no way to tell without knowing how much you had withheld in total.
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My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby adamec » Fri Jan 21, 2011 12:32 am

Your tax liability, put in the simplest of terms, is a function of your taxable income and how much money you put in (withholding, ECT).

Add up both your incomes, subtract the standard deduction for married filing jointly for 2010 $11,400 and the two exemptions you get $3,650 each. = $7,300
this will give you an approximate no deduction taxable income X- $11,400-$$7,300 = taxable income
Then find a 2010 tax table for married filing joint returns for your taxable income. to get the tax

Compare that to the total of your withholding if the withholding is more then the tax you get a refund. Less then you owe.

Unfortunately most newlyweds suffer from whats called the marriage penalty. But you were wise to carry zero dependents make sure to change it early in 2010 to married 0 dependents if you want the best chance of a refund.

Hope this helped
Good Luck
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My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby roibin » Fri Jan 21, 2011 12:34 am

u will get the capped couples making work pay credit of 800.00 and almost all of your federal taxes u paid in.
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My husband and I made between $50,000 and 55,000 last year. What will we get back in taxes?

Postby watson » Fri Jan 21, 2011 12:36 am

No, they'll keep somewhere around $4000-4500 of what you paid in for federal income tax. You'll get the rest back, plus $800 for the making work pay credit.
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