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-   -   Cpt+opt taxes (https://www.askmehelpdesk.com/showthread.php?t=19788)

  • Feb 5, 2006, 10:08 AM
    bob111
    Cpt+opt taxes
    Thanks for you reply.

    This is in continuation of my previous question.
    My federal witholding from my first employer is 1463.18 , wages shown in box 1 is 13,650
    And from my second employer is 958(federal witholding)
    And my wages in box 1 is 7,500

    I would like to know how much returns I can expect.


    Thanks.
  • Feb 5, 2006, 07:35 PM
    AtlantaTaxExpert
    Your refund will be about $840.
  • Feb 5, 2006, 08:07 PM
    bob111
    Thanks for your reply. I appreciate your help. Could you please tell me how did you get down to this calculation on my taxes.
  • Feb 5, 2006, 08:45 PM
    AtlantaTaxExpert
    Total wages ($21,150) minus standard deduction ($5,000) minus personal exemption ($3,200) equals $12,950.

    Tax for $12,950 is $1,581. Your total withholding is $2,421. Difference is the refund of $840.

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