I have received a federal tax refund of $1,400 in the past two years. I am now 25 years old and still live with my folks. Previously I worked for $11 an hour and it was a mix of part time/full time depending on when I had school. I currently work for another job and make $45,000 gross and I calculated that I will have $33,000 net. I also still live at home with my parents but they don't claim me as a dependent.

My question is, I am in the process of finding a place of my own, and I was wondering if I lived on my own, am single, earning the above salary, what estimated tax refund could I be looking at every year?  Or is it impossible to estimate? I live in Illinois if that makes a difference.

Views: 60

Reply to This

Replies to This Discussion

You should be able to "reverse-engineer" this, so to speak, with an online take-home pay calculator. I know state-specific ones exist, but didn't find one really fast. Keep googling. Illinois makes it easier, 'cause they have a flat income tax.

I'm fascinated by the question, 'cause I don't understand why more people don't come out even with the government at the end of the year. If your W-4 is correct, and you don't have extra income or extra deductions (maybe those are bigger "ifs" than I realize), payroll should sort this out for us.

Of course, no one knows what the legislatures will do with the tax codes going forward. You're not going to get complete precision.

RSS

Latest Activity

Lucas Fialho replied to John Gardiner's discussion Loveto be naked
"Well, i think that if you want to be naked with other people but not sexual involved you need to be fine with your physicall apearence up because its not sexually!. Maybe be nude in front of others is thing that you famalliarize by actually doing…"
1 hour ago
Michael J. K. replied to John Gardiner's discussion Loveto be naked
"all nudists are not gay   that said there is nothing wrong with our bodies or being naked or being in a thong we may not all look good in skimpy swm attire but it happens.    feeling good about ones body no matter how many clothes are…"
3 hours ago
Michael J. K. joined Ian Wilson's group
Thumbnail

Out to Build Bridges

This is a GSRM (Gender Sexual Romantic Minorities or LGBTQ+) group.  But And straight men and cis-men are encouraged to join as well.However, unlike the already established AoM group "Gay and Bisexual Men", this group is wide open, no privacy settings enabled.  The overall purpose of the group is to encourage conversations between the straight and non-straight communities.  This already happens in AoM, but it is scattered.  And it can't happen in the private "Gay and Bisexual Men" group.Debate…See More
3 hours ago
Michael J. K. replied to Michael J. K.'s discussion listening can be good at times in the group Male Survivors
"Married and happy   Guys glad to be here in this group"
3 hours ago
Michael J. K. replied to Rick Thompson's discussion There are Many forms of abuse. in the group Male Survivors
"Been doing okay but thinks have been up and down the last few months.   Been depressed extreaemely sad.  A lot of emotions flying around.   Need hugs to be held all the above.   Male friendships with caring men is so…"
3 hours ago
Michael J. K. left a comment for adrian
"welcome Adrian"
4 hours ago
Tarquin Anstruther replied to Josh Allen's discussion My Fathers Bodybuilding Progress Leading Towards The 2014 Championships.
"Work?"
4 hours ago
Michael J. K. commented on Steven C.'s group Exercise
"I AM going to get on the bike Friday and ride 20 or more miles"
7 hours ago

© 2014   Created by Brett McKay.   Powered by

Badges  |  Report an Issue  |  Terms of Service