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    leslieh8907's Avatar
    leslieh8907 Posts: 1, Reputation: 1
    New Member
     
    #1

    Jul 29, 2008, 04:26 AM
    Will I owe taxes? What can I do?
    I live in Texas and I work for Racetrac I have a 3 month old son and a husband on SSI. As of yet I have had no taxes taken out. I did my form before he got benefits and we married I claimed 2 dependents and single. My paycheck gross a week is $320 netpay normal is $295. Countless people have told me I will owe taxes and I'm stuck between a rock and a hard place with my income and his we are only able to afford $100 for food a month and no medical insurance for ourselves (son is on WIC and Medicare) and I don't know if I should change it or not. Is there a way I can still pay taxes but a minimum? An extra $50 a week out of my check won't make do...
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
    Uber Member
     
    #2

    Jul 29, 2008, 06:12 AM
    For a family of three you are in the poverty level guidelines where you do not owe taxes.
    In fact if you filed this year you were entitled to the stimulus rebate.
    You should even be eligible for utility help such as LIHEAP and Dollar energy.
    You would also be eligible for the foodbank if you have one in your area.
    Your being eligible for wic proves you are in the poverty level guidelines.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #3

    Jul 29, 2008, 07:41 AM
    I absolutely agree with NOHelp4u. No only will you NOT owe any taxes, but you will qualify for the Earned Income Credit, which could amount to OVER $1,000 due to your child.

    On that basis, you can apply through your employer to get the Advanced EIC and have additional money added to your weekly check.

    For the time being, however, have NOTHING taken out of your paycheck.
    N0help4u's Avatar
    N0help4u Posts: 19,823, Reputation: 2035
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    #4

    Jul 29, 2008, 08:49 AM
    leslieh8907 agrees: thank you so helpful kind of sad to think we are in poverty though :(
    Don't feel bad it is how you manage your money that counts.
    I know families that can not manage on $60,000. A yr
    And I raised 4 kids and have never ever had an income of more than $18,000. In a year.
    My average was $12,500. A year.

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