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Lev
Lev, Tax Advisor
Category: Tax
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Experience:  Taxes, Immigration, Labor Relations
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what is tax due on a 22,000 salary

Resolved Question:

taxes due on a private music teaching business of 22,000
Submitted: 9 years ago.
Category: Tax
Expert:  Lev replied 9 years ago.

Assuming you are self-employed and filing schedule C - http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

Be sure that you write off all business related expenses. Assuming that $22,000 is your net income after deducting all expenses.

You will pay self-employment taxes 15.3% - $3366 - and fill th e schedule SE - http://www.irs.gov/pub/irs-pdf/f1040sse.pdf

You will file form 1040 - http://www.irs.gov/pub/irs-pdf/f1040.pdf and

  • report $22,000 on the line 12
  • One-half of self-employment tax $1683 will be reported on the line 27.

Your income tax will depend on your other taxable income, filing status, dependents, deductions, etc - please specify.

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