Federal deduction

Wyatt811 — Wed, 28 May 2025 20:45:05 GMT

I make roughly 56,000 yearly. I have 2 dependents. I do not get any federal taxes taken out and was wondering what the average yearly earning amount would be where you would have to pay in at the end of the year with having no federal taxes taken out.

Re: Federal deduction

Cindy4 — Wed, 28 May 2025 21:06:40 GMT

The standard deduction, which is the amount you can exclude from taxable income, varies on your filing status:

Married filing jointly - 30,000 + 1,600 for each spouse 65 or older.

Head of Household - 22,500 + 2,000 if 65 or older

Single - 15,000 + 2,000 if 65 or older

The dependent credits vary depending on the age of your children:

16 and under - 2,000

17 and over - 500

Depending on your specific situation the amount will vary based on the numbers above.

Here is our withholding calculator. It should help you determine the amount you need have withheld.

@Wyatt811 Hope this helps!

Cindy

topic Federal deduction in Get your taxes done using TurboTax

Federal deduction

Re: Federal deduction