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| *The Commerce Journal>>>United States Taxes |
Imselfemployed ihave1child i netted 9,000 after expenses.what wil my return be? |
after expenses the net was $9000.00 with $3500.00 for expenses. i have 1 child and my husband is on disability i know you have to pay self employment taxes, and social security tax, but with 1 child would i get any refund back? Well, if $9000 is all you have to report, then you won't be paying any income tax, however your Self Employment tax will be around $1300. Earned Income Credit will subtract from this, causing you to get a small refund, most likely -- I don't have the EIC table, so I can't say for sure, but $9000 with one child should be high enough to either cause you to pay very little, or give you a little refund. You don't tell us how much was witheld, so we can't know how much you would get back. I assume you didn't pay anything in, that you file a joint return and that your husband's disability is not taxable (some types of disability payments are taxable), and that your child is under 17. If any of these aren't true, then that would change my answer. |
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