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Calculations for taxes to get back 9000 with 1 dependant


Assuming you are referring to federal taxes in the United States, the amount of taxes you get back with 1 dependent cannot be accurately determined without more information. Your total tax liability and eligible deductions and credits will affect the amount of refunds you receive. However, here is a general overview of the possible calculations: 1. Determine your total income: Add up all sources of income, including wages, interest, dividends, and any other income. 2. Calculate your taxable income: Subtract any deductions and exemptions from your total income to get your taxable income. With 1 dependent, you may be eligible for the standard deduction of $18,000 for head of household filers in 2021. 3. Determine your tax bracket: Use the IRS tax tables to find the tax bracket that corresponds to your taxable income. This will determine the percentage of your income that you will owe in taxes. 4. Calculate your tax liability: Multiply your taxable income by the tax rate for your bracket to determine your tax liability. This is the amount of taxes you owe before any deductions and credits. 5. Apply deductions and credits: If you have eligible deductions and credits, they will reduce your tax liability. Some deductions and credits that may apply to you with 1 dependent include the child tax credit, Earned Income Tax Credit, and Child and Dependent Care Credit. 6. Check for refundable credits: Refundable credits can reduce your tax liability to below zero, resulting in a tax refund. These credits include the Additional Child Tax Credit and the Earned Income Tax Credit. 7. Estimate your refund: Subtract your total tax liability from any deductions, credits, and refunds you may be eligible for to determine your estimated tax refund. This may be close to the $9,000 you mentioned, but it could be higher or lower depending on your individual tax situation.