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    bob111's Avatar
    bob111 Posts: 3, Reputation: 1
    New Member
     
    #1

    Feb 5, 2006, 10:08 AM
    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.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #2

    Feb 5, 2006, 07:35 PM
    Your refund will be about $840.
    bob111's Avatar
    bob111 Posts: 3, Reputation: 1
    New Member
     
    #3

    Feb 5, 2006, 08:07 PM
    Thanks for your reply. I appreciate your help. Could you please tell me how did you get down to this calculation on my taxes.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
     
    #4

    Feb 5, 2006, 08:45 PM
    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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