$7.500.00

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Largest tax return poll: please list why it was so large (ie. low income with kids, write offs, mortgage deductions etc.) also, please list what problems/complications the amount caused, if any. **look this is just a poll, i don't have a problem and don't need financial advice.

Dear JX: 2 kids = EITC max $4800 Child tax credit max $2000 = $6800 At this income level it is unlikely to have a large mortgage and write offs. Your refund will also be affected by the with holding as determined by your W4 set up.

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How much can i earn on federal income tax return if i make around $30,000 a year?

Your federal income tax refund depends on your filing status and how much you had withheld , among other things. Go to the H&R Block Tax calculator, enter your data, and it will compute your taxes and refund for you: http://www.hrblock.com/taxes/tax_calculators/index.html

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How much can i earn on income tax return in us if i make $30,000 a year (gross)?

Your federal income tax refund depends on your filing status and the amount withheld from your pay, among other things. Go to the H&R Block Tax calculator, enter your data, and it will compute your taxes and refund for you: http://www.hrblock.com/taxes/tax_calculators/index.html

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Income tax was $400,000 for the year. income tax payable was $30,000 and $40,000 at the beginning and end of the year. cash payments for income tax reported on the cash flow statement using the direct method is _______. 1. $400,000 2. $390,000 3. $430,000 4. $440,000

2. $390,000. The payable increased by $10,000 from the beginning to the end of the year so that means you only spent $390,000 in cash.

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And have no dependents just me and my husband he just statrted getting social security disability.so i supported him this past year will i get anything back ?

If you're married filing jointly, both people under age 65, you can have up to $16,900 income before you have to pay taxes. With income near $30,000, you will probably have to pay some tax. Whether or not you get anything back will depend on how much you had withheld. If you had more withheld than your total taxes, you'll get the extra refunded to you. I can't be more specific without knowing how much you had withheld. Any answer even then would also depend on whether you had enough deductible expenses to itemize, or whether you use the standard deduction. The people who give answers that yes, you'll get money back without this information are making assumptions without enough information to make them. You'd be eligible to have your taxes done at no charge at a VITA site. See irs.gov and type VITA in the search box to find more info on this program. There's most likely a site near you.

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I live in canada if that makes any difference

You'll probably get some of it back, but you won't get back most of it - you made enough money that your income is taxable . Anything over $9600 is. You don't need to purchase anything to see how much your taxes refund will be. THis calculator will show how much you should have paid, for your province: http://www.ey.com/global/Content.nsf/Canada/Tax_-_Calculators_-_2007_Personal_Tax If you were a student, you'll pay less tax than that because students get tax credits. Same thing if you made RRSP contributions.

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I am thinking of starting a business, with myself as the sole proprietor. i do not need a business license as i will be running the business entirely under my first and last name. will my earnings, that will come to less than 30,000 cad per year, be subject to income tax? or will these earnings under canada bc laws be tax free?

The $30,000 threshold applies only to whether or not you are required to collect GST/HST on your sales. At that level of income, you will be subject to income tax, both at the federal and provincial level, and you will also be required to pay into the Canada Pension Plan. So, breaking it down: CPP starts when your income is over 3,500 dollars at a rate of 9.9%. You would be exempt from this only if you are under 18, or over 70, or if you are currently collecting CPP retirement or disability benefits. Federal Income tax starts when your income reaches 10,385, at a rate of 15%. Provincial tax starts at 11,000, at a rate of 5.06%. Keep in mind that this is based on your profit, not the revenue. You would be taxed on the profit realized after expenses. In addition, neither the federal or provincial governments have tabled their budgets yet for 2010. All the numbers shown above are subject to change.

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No, to both. Estate tax is a federal tax paid by the estate to the extent it exceeds the decedent's remaining estate-tax exemption, currently $5 million. Inheritance tax - not income tax - is a state tax paid by the beneficiaries for the "privilege" of inheriting property from a decedent. While you'll need to check with your own state law, in most circumstances, lineal decedent's are exempt. Hope that helps. PLEASE VOTE to avoid a TIE. On behalf of all of your responders, who take the time and effort to help questioners in this free Yahoo! community, THANK YOU in advance for taking the time to choose your "Best" Answer. We really appreciate it. DISCLAIMER: While the information in this response was obtained from sources believed to be reliable, its accuracy and completeness cannot be guaranteed. The opinion voiced in this answer is for general information only and it shall not be construed as tax, legal, or investment advice for any individual. Questioners are urged to consult with their professional advisers before making any decisions regarding their finances. Retirement Guru, CFP®, EA, BCE, CFS, AAMS Certified Financial Planner™ Practitioner Enrolled Agent | Admitted to Practice before the IRS 'Providing sound Retirement and Estate Planning Strategies since 1985' Source(s): One of only 1,691 professionals in the country who holds both the CFP and EA designations (CFP Board: July 2009). In practice over 25 years

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The question can not be answered because there are a number of variables that you have not provided.

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"Bifuracte" ?? Or "Bifurcate?" To split into 2 parts. Neither has any tax meaning. You can bifurcate an apple by cutting it into 2 pieces. You can only "bifurcate" your income by taking a job that pays half of what you currently earn.