bigbet1234 said:
When filing a schedule A, you dont pay in to SS do you?
Also, what is a estimation of the % for Federal tax?
I seen General state 12.4%, but I don't know where that number came from.
Thanks,
BB
No, you dont have to pay SS if your filing as a non-professional...........which I personally recommend to 99% of the people.
I am confused on what your asking in regards to estimation of the % for Federal Tax.
You do not have to pay estimated taxes if that is what you mean.
Here are the Federal Tax rates for 2003.............
<TABLE borderColor=#006666 cellSpacing=0 cellPadding=4 width="100%" align=center border=1><TBODY><TR bgColor=#009999><TD class=tablehead vAlign=center align=middle width="12%"><CENTER class=tablehead>
Tax rate </CENTER></TD><TD class=tablehead vAlign=center width="20%"><CENTER class=tablehead>
Single filers </CENTER></TD><TD class=tablehead vAlign=center width="29%"><CENTER>
Married filing jointly or qualifying widow/widower </CENTER></TD><TD class=tablehead vAlign=center width="19%"><CENTER>
Married filing separately </CENTER></TD><TD class=tablehead vAlign=center width="20%"><CENTER>
Head of household </CENTER></TD></TR><TR bgColor=#f1f1f1><TD class=body-bold vAlign=center align=middle width="12%">10% </TD><TD class=body vAlign=center width="20%"><CENTER>Up to $7,000 </CENTER></TD><TD class=body vAlign=center width="29%"><CENTER>Up to
$14,000 </CENTER></TD><TD class=body vAlign=center width="19%"><CENTER>Up to $7,000 </CENTER></TD><TD class=body vAlign=center width="20%"><CENTER>Up to $10,000 </CENTER></TD></TR><TR bgColor=#ffffff><TD class=body-bold vAlign=center align=middle width="12%">15% </TD><TD class=body vAlign=center width="20%"><CENTER>$7,001 - $28,400 </CENTER></TD><TD class=body vAlign=center width="29%"><CENTER>$14,001 - $56,800 </CENTER></TD><TD class=body vAlign=center width="19%"><CENTER>$7,001 - $28,400 </CENTER></TD><TD class=body vAlign=center width="20%"><CENTER>$10,001 - $38,050 </CENTER></TD></TR><TR bgColor=#f1f1f1><TD class=body-bold vAlign=center align=middle width="12%">25%</TD><TD class=body vAlign=center width="20%"><CENTER>$28,401 - $68,800 </CENTER></TD><TD class=body vAlign=center width="29%"><CENTER>$56,801 - $114,650 </CENTER></TD><TD class=body vAlign=center width="19%" bgColor=#f1f1f1><CENTER>$28,401 - $57,325 </CENTER></TD><TD class=body vAlign=center width="20%"><CENTER>$38,051 - $98,250 </CENTER></TD></TR><TR bgColor=#ffffff><TD class=body-bold vAlign=center align=middle width="12%">28%</TD><TD class=body vAlign=center width="20%"><CENTER>$68,801 - $143,500 </CENTER></TD><TD class=body vAlign=center width="29%"><CENTER>$114,651 - $174,700 </CENTER></TD><TD class=body vAlign=center width="19%"><CENTER>$57,326 - $87,350 </CENTER></TD><TD class=body vAlign=center width="20%"><CENTER>$98,251 - $159,100 </CENTER></TD></TR><TR bgColor=#f1f1f1><TD class=body-bold vAlign=center align=middle width="12%">33%</TD><TD class=body vAlign=center width="20%"><CENTER>$143,501- $311,950 </CENTER></TD><TD class=body vAlign=center width="29%"><CENTER>$174,701 - $311,950 </CENTER></TD><TD class=body vAlign=center width="19%"><CENTER>$87,351 - $155,975 </CENTER></TD><TD class=body vAlign=center width="20%"><CENTER>$159,101 - $311,950 </CENTER></TD></TR><TR bgColor=#ffffff><TD class=body-bold vAlign=center align=middle width="12%">35%</TD><TD class=body vAlign=center width="20%"><CENTER>$311,951
or more </CENTER></TD><TD class=body vAlign=center width="29%"><CENTER>$311,951
or more </CENTER></TD><TD class=body vAlign=center width="19%"><CENTER>$155,976
or more </CENTER></TD><TD class=body vAlign=center width="20%"><CENTER>$311,951
or more </CENTER></TD></TR></TBODY></TABLE>
Not sure what GENERAL is referring to with the 12.5%.
If one was to make $14,000, you would essentially be paying about 12.5% tax on your income if filing as being single.