The Small Business Tax Help Blog

Posts Tagged ‘estimated tax return’

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Question: So confused about how much i will get back on my tax return!?

I made a total of $6,128 in 2010 with $589 taxes withheld. I’m am also a single mother with a 5 month old baby. People are telling me that I qualify for EIC, CTC, and ACTC….I’ve done some research yet im still completely confused as to how they all work. Can someone please explain and give me an estimate of how much i’d get back on my return. Thanks

Answer: Assuming YOU aren’t a dependent, you’re eligible for EIC and ACTC, not CTC because that requires paying some tax and you didn’t make enough for that. If you’re a dependent, you can’t claim a dependent and wouldn’t be eligible for the credits.

EIC is an amount given to low income people. With 6128 income and one qualifying child, that would be $2083. You should also get $469 for ACTC and $380 for the making work pay credit. So you’ll get around $2932, plus anything that was withheld for federal income tax. You don’t get back the amount withheld for social security or medicare. If you had state or local withholding, you might or might not get some or all of that back depending on where you live.

Petrobank Announces 2010 Reserves, Including First THAI(R) Reserves, and Heavy Oil Operational Update

CALGARY, ALBERTA– – Petrobank Energy and Resources Ltd. is pleased to announce our year end 2010 reserves evaluation and to provide an operational update of our Heavy Oil Business Unit activities.

CPA Firm San Antonio, TX – Tax Accountant Income Tax Experts

Question: Tax Return 2008 Question?

Through Turbo Tax 2009, they ask for the “Estimated economic stimulus rebate calculated on my 2007 tax return”….?

Is this the amount of my return in 2007 or how much my stimulus check from the Govt was in 2007.

Dont understand. Please explain to your best knowledge. Thank you

Answer: It’s how much you received.

If you don’t remember, you can go to www.irs.gov and follow the links to find out how much you received.

Mayor criticizes Malibu Lumber-city relationship

The mayor says the city’s relationship with Malibu Lumber is “out-of-hand” and “muddy.”

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