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    cardenas3's Avatar
    cardenas3 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 17, 2008, 06:43 PM
    How Much will I get back From Income Taxes
    I am Married wth one child and I made $23,970 This year how much money will I get back on my income taxes??
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Nov 17, 2008, 06:46 PM

    There are too many factors to answer that. Get yourself a copy of some tax software and you can figure it out.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Nov 18, 2008, 06:16 AM
    If the $23,970 is your ONLY income, you will owe NO income taxes on the federal level and will get all federally-withheld taxes back, because your personal exemptions ($3,500 X 3 = $10,500) plus your joint standard deduction ($10,900) plus the $1,000 Child Tax Credit completely offset any taxes due.

    Further, you probably qualify for the Earned Income Credit, which means several thousand dollars will be added to your refund check when you file.
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