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.
First, you offset as much of the rental income as you can with deductions for interest, depreciation, utilities, etc. Whatever net income remains, you pay tax on as ordinary income (depending on your tax bracket).
If I retire and my income is $4500. a month, how much federal income tax will I pay?
You don't pay tax on the tax-free pay and you do pay tax on taxable income
What answer? I see no answer here!
$600
How much federal income tax is paid on $9600.00
First, you offset as much of the rental income as you can with deductions for interest, depreciation, utilities, etc. Whatever net income remains, you pay tax on as ordinary income (depending on your tax bracket).
If I retire and my income is $4500. a month, how much federal income tax will I pay?
The wealthy do pay income tax, and since the wealthy have more income, they must pay more money in income tax.
You don't pay tax on the tax-free pay and you do pay tax on taxable income
all people pay income tax.
What answer? I see no answer here!
$600
yes,he has to pay 30% of income tax ,, bhawna :P........ i m aayushi :P
Too much, only billionaires should pay taxes. :-)
some much
No such thing..no maximum on how much money you can make, no max on how much tax you can pay