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How much Federal Tax would I pay on a salary of $14,000 a year?
I need to know what your withholding is indicated on the W-4 you turn in to your employer. Are you for example single and zero exemptions, married and 3, single and 3, etc.?
How much Federal and state tax at the end of the year would I have to pay on $14000. I would be filing a 1040ez with no dependents. Only myself.
I was talking about what you put on the W-4 form when you turn it into your employer. This form tells the employer how much withholding to take. Your actual tax would vary depending on deductions you were allowed during the year.
Based only on the following:
- 3300 exemption
-5100 (approximately) in persona exemption means that:
your tax is based on 14,000 -(8450) = 5550
This is the 10% bracket so you would pay approximately 555 dollars. with holding may be different than what you actually pay at the end of the year. You could be due a refund.