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Bill, Enrolled Agent
Category: Tax
Satisfied Customers: 3153
Experience:  EA, CEBS - 35 years experience providing financial advice
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How much federal taxes do you pay on $5,000.00

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Submitted: 9 years ago.
Category: Tax
Expert:  Bill replied 9 years ago.
It would depend upon your tax bracket which would be based on your other income for the tax year, your filing status, exemptions, deductions, and credits. The tax brackets are 10%, 15%, 25%, 28%, 33%, and 35%. If the income is from a salary then FICA taxes of 7.65% may also apply depending on how high your total salary income is.