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Should 2 child claims, married filing joint, on taxes with a 52,000 dollar yearly income make the federal taxes being withheld $0?
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posted
August 5, 2022
10:55 AM
last updated
August 05, 2022
10:55 AM
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Should 2 child claims, married filing joint, on taxes with a 52,000 dollar yearly income make the federal taxes being withheld $0?
Are you asking what you should put on a W-4 for tax to be withheld from your paychecks?
https://www.irs.gov/pub/irs-pdf/fw4.pdf
https://www.irs.gov/individuals/tax-withholding-estimator
**Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
August 5, 2022
11:18 AM
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Should 2 child claims, married filing joint, on taxes with a 52,000 dollar yearly income make the federal taxes being withheld $0?
@brebrepherson - that is likely.
$52k of income less the standard deduction of $25.9k leaves taxable income of $26.1k.
The tax on that is approximately $2900. But from that subtract $4000 for the tax credits related to the two children (who I assume are both under 17 years old and live with you). So even if nothing is withheld, your federal tax refund should be in the $1100 range.
August 5, 2022
11:23 AM
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