if i make $14,000 a year and im a single mom with 3 kids how much will my tax return be ?
Im from Illinois and make $14,000 a year . I have 3 children and I am self employed. The reason I am asking is because the tax accountant I had makes me feel as if though he's been screwing everything up these last three years I've been with his services.
Asked By: - 1/17/2013
Best Answer - Chosen by Asker
Using your NET PROFIT form your schedule C and the SE of your of your 1040 income tax return is what you will have to do for this purpose and time in your life... More
Answered By: Bobbie - 1/18/2013
Additional Answers (3)
There's just too many variables to determine what your tax return will be, especially since you're self-employed (is 14,000 your income? or just your revenues? what kind of business are you in? what expenses do you have... More
Answered By: Ben - 1/17/2013
Probably around 6300.
Answered By: Judy - 1/17/2013
Basically, your self-employment income amount less deductable business expenses is what you owe self-emplyment tax on (about 30% of profit). You then can claim the Earned Income Credit on the remaining profits = refund.
Answered By: mudbug - 1/17/2013
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