johnFkennedy
Member
I'm 26 years old, single, no kids, make about $25K a year, and I'm a student.
Is this normal?
Is this normal?
I'm 26 years old, single, no kids, make about $25K a year, and I'm a student.
Is this normal?
I wish I paid 24% tax
I'm 26 years old, single, no kids, make about $25K a year, and I'm a student.
Is this normal?
The price of freedom
Explain.
Are you just basing that off of your paycheck, sans potential tax refund?
Yes. I should have mentioned that last year I got about 2 grand back, yet I still shake the feeling that I'm getting ripped off every time I get paid.
I'm 26 years old, single, no kids, make about $25K a year, and I'm a student.
Is this normal?
Yes. I should have mentioned that last year I got about 2 grand back, yet I still shake the feeling that I'm getting ripped off every time I get paid.
Standard deduction is about $6k. That leaves $19k. 10% on the first $9k and 15% on the rest, you should be paying around $2,400 in taxes or about 12%, plus FICA, plus state tax. FICA is 7.65%, that's 19%. Depending on what state you live in, that's about right.
The first step is to get your refund to $0.last year I got about 2 grand back
I end up paying about 70 percent of my salary in taxes.
try 50% (belgium)
Sounds like it's an error on my part. How exactly do I fix my withholdings?
this is why the tea party exists
Well, that and the fact that the president is black.
Combining FICA, OASDI, Federal income withholding, state income withholding, all sales taxes, all personal property taxes, all real estate taxes, and any excise taxes you may incur (alcohol and tobacco), you're probably paying much more than 24% to be honest.
Probably not, unless he screwed up. I'm going to go out on a limb and say he's not paying any real or personal property taxes, since he's a student making less than 30k a year. The sales tax rate is probably 5-8% depending on where he lives, and its not applied to everything and only on some things he buys, not income. So that might end up being like 2-3% of his income. If he pays more than 20% in all taxes I would be surprised.
State income is the wild card I guess. Could be zero, could be a decent chunk.