What is your monthly after-tax income if you make 150000 a year?
The amount one pays as income tax depends on their TAXABLE income. It is a percentage of that income. The exact percentage used depends on the level of that income. Taxable income depnds on many things: Earnings from employment for sure, earnings from other sources (investments, government payments, etc.), and even then certain items of each may be not included, or things you may not receive in cash may be included. For example - the contribution to a 401k is not taxable income, even though it is part of your salary. On the other hand, certain benefits you may receive, like employer paid life insurance, car allowances, even access to a cafeteria that has reduced prices because of an employer supporting it), may result in taxable income to you. Once the amount of taxable income is determined, then the deductions to that income are applied. For example, interest paid on the mortgage for your home, number of dependent children, number of other qualifying dependents, medical costs, certain expenses of making that income, state taxes paid, etc.). Hence, any 2 people, holding the exact same job at the exact same salary and benefits, may well have 2 entirely different tax amounts due. Once the amount of taxable income is determined, looking at the tax rate charts (made by filing status, for example single filer verses married filing jointly), for that income determines how much one actually must pay. I'll try and provide a link to a chart. And of course, how much you take home has many other things taken out other than Federal income taxes...State Tax, City, FICA, Worker Comp, Unemployment, medical contributions, retirement contributions, etc. etc.
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So, I guess your asking for someone to calculate your tax return....and that's all you figure is needed to do so....and it makes sense to you this is a good place to do it? Wo…w... How much tax reduces your before tax income depends on many, many things...not the least of which is what you consider tax. Many people group all their withholdings/reductions as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax. The amount of tax withheld or eventually paid also depends on may things...obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be needed), as well as your filing status, number of dependents and other deductions (like interest paid on a home, charity, medical expenses, etc) . For withholding, all these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to, and then properly reporting them on your 1040. Finally, there are a number of different legal ways for the payroll provider to calculate certain aspects of the amount to withhold...but overall they make only a small difference. Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty). Again, adjusting your W-4 is the way to correct for any of these circumstances. Or check out http://www.listentotaxman.com/ if your 29000 a year is in pounds
If your taxable income is at least $100,000, you generally have to figure your taxes using a Tax Computation Worksheet instead of the Tax Tables. Your $150,000 gross income is… reduced by standard deduction of $10,900 in 2008 ($11,400 in 2009) and personal/dependent exemptions of $24,500 ($25,550 in 2009) to taxable income of $114,600 ($138,600 in 2009). Then go to Section B Married Filing Jointly/Qualifying Widow(er) for the Rate, which is 25 percent (.25), minus the Subtraction Amount of $7,313 ($7,625 in 2009). The result is your tax of $21,337 ($20,638 in 2009). Your tax is reduced by any income tax that was withheld. Also, if you itemized instead of taking the standard deduction, your taxable income would be lower, which then lowers your tax.
\nthat would be 12500, \n. \n
If you are making you monthly payments on your student loan can you still get your income tax at the end of the year?
If you are not delinquent with your student loan, your federal income tax refund will not be garnished.
I'm not sure if you mean a veteran or a veterinarian!. It depends on many, many things...not the least of which is what you consider tax. Many people group all their withhold…ings as a type of tax, but many may not be. Workers Comp, Unemployment, even FICA are all really more an insurance payment than a withholding against an income tax.. The amount of tax withheld also depends on many other things...obviously which state (or even city) your in, the amount of income your projected on earning over the year, (which helps determine your tax bracket and the percent that may be required), as well as your filing status, number of dependents and other deductions (like interest on a mortgage) or contributions to 401K, or medical slections.. All these things can be adjusted for your circumstances by properly and completely filling out (or changing) the Form W-4 all employers ask you to. The variations are so numerous that it is fair to say that it would be uncommon for 2 people, working a the same job making the same salary would have the same amount withheld.. There are even a number of different legal ways for the payroll provider to calculate the amount to withhold...but overall they make only a small difference.. Remember, anything withheld is just being done as an estimated installment payment toward whatever tax, if any, you do ultimately owe. If too much is withheld, it is refunded. (Too little, and you could pay a penalty and interest charges). Again, adjusting your W-4 is the way to correct for any of these circumstances.
You are the only one that has all of the necessary information that will have to be reported on your 1040 FEDERAL income tax return for the year in order to do the calculation… for the numbers that you are looking for. After you complete your 1040 federal income tax return correctly to your TAXABLE INCOME and page 2 lines 43 and Line 44 you will know the amount of your income liability before any credits or other taxes. Continue from Line 45 to the last lines at the bottom of the 1040 page 2 and then you will know how much taxes you will have to pay if any after you complete your 1040 income tax return correctly.
This question cannot be answered. It lacks required information A) Where are "you" living - Ireland, South Africa, China, Canada? B) Is the 7000 before or after any ded…uctions?
grow and sell marijuana
I am head of my house hold with a 17 month child how much will I get back for my taxes
There is no set cost, it depends on the individual
Yes and you could have a federal income tax liability when you complete your income tax return correctly.
To find your monthly income, you divide the amount you make a year by 12 months. In this case, $67000 is divided by 12, so you make approximately $5583 a month.
In the UK income tax is collected in various ways, if you are employed then the PAYE (pay as you earn) system will collect tax each time you are paid, which is usually weekly …or monthly, if you are self employed then income tax will be normally be collected annually when your tax return is processed.
Approximately 17 years. There are two possible ways to interpret this question. We could be asking for the number of average years (with an answer of approximately 17 years…+40 days+15 hours as calculated below in the first answer, notes 3 and 4) or we could be asking about the number of actual years (and days) from a particular date as given by the second answer below (which gives an answer of exactly 17 years and 41 days for a specific date). Answer 1 17 yrs (+ 40 days + 18 hours) Solution Method: 1. There are an average of 365.25 days/year (365 days + 1 extra day every leap year (which occurs every 4 years) (i.e. 365 days + 1/4 average day/yr=365.25 average days/yr). 2. There are an average 8,766 hours/year (i.e. 365.25 average days/yr * 24 hrs/day) 3. 150,000 hours * 1 year / 8,766 hours = ~17.1 years Notes: 1. "~" means "approximately". 2. 150,000 hrs / 24 hrs/day = 6250 days 6250 days / 365.25 aver days/yr = ~17.1 yrs = 150,000 hours * 1 year / 8,766 hours = ~17.1 yrs (exactly the same answer--i.e. 17 yrs + 40 days + 18 hours). 3. A complete orbit of the earth around the Sun occurs every 365.256363 mean solar days. With this number we can determine Earth's orbit hours are: 365.256363 * 24 = 8766.152712 hrs/yr. Using this more accurate time means the most accurate answer is: 150,000 / 8766.152712 = 17.111269325101394605957898124283 = 17 yrs + 40 days + 15 hours + 24 minutes + ~14 seconds). 4. Using 86400.002 seconds/mean solar day and 8766.1529149202 hours/mean solar year (86400.002/3600), the answer is: 150,000/8766.1529149202 = 17.11126893 years (i.e. 17 yrs + 40 days + 15 hours + 24 minutes + ~1.5256 seconds). Answer 2 Unlike the first answer, we assume here that the question is about the number of actual years (and days) from a particular date. 150,000 hours = 24*6250 hours = 6250 days (exactly) since there are 24 hours in a day. This means that the number of years and days after 150,000 hours have elapsed relative to a particular time (year, month, day, hour, minute, second...) can be expressed exactly in a whole number of years and a whole number of days (there will be no additional hours, minutes or seconds if we ignore the leap seconds that are added to Universal Coordinated Time (UTC)). However, because of leap years, the exact answer will depend upon the start time. One can determine the exact number of years and days most easily using a Julian Day Number (JDN) calculator. For example: Start day: September 10, 2012 = JDN 2456180.5 Ending JDN = 2456180.5+6250 = JDN 2462430.5 JDN 2462430.5 = October 21, 2029 Thus there were 17 years between September 10, 2012 and September 10, 2029. Since September 10, 2029 = JDN 2462389.5, The difference between October 21, 2029 and September 10, 2029 = 2462430.5 - 2462389.5 = 41 days exactly. Thus the number of years and days exactly150,000 hours from (any time during) September 10, 2012, is 17 years and 41 days exactly (to the same time during the day if we ignore leap seconds).