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    j2shaw6j's Avatar
    j2shaw6j Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Nov 29, 2007, 08:35 PM
    Tax Return
    Is there a way to figure out how much money you will get back from taxes?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    Nov 30, 2007, 01:29 AM
    Yes. First figure out your taxable income, which is your total income less deductions. Your deductions depends upon your age, your filing status and dependents.

    Once you have taxable income, go through the Tax Table to figure out your federal tax. Then find out how much you have paid including federal tax withheld. You will know your federal tax you owe or refund.

    For tax table and EIC table, see IRS Publication 17: Your Individual Income Tax.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    Nov 30, 2007, 12:16 PM
    Check out the tax websites, like TaxAct.com.

    They may have early-versions of the 2007 tax software available for you to model how much your refund will be.

    Most of these websites charge NOTHING for such modeling.
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