Have Tax Questions? Ask a Tax Expert for Answers ASAP
Hi and welcome to Just Answer!
I am working on calculations... please stay with me...
Nice to need you again. Let me know if you need additional information.
Social Security – 85% will be taxable
Dan $19,824 – taxable $19,824*85%=$16850
Stevie 9,252 – taxable $9,252*85%=$7864
Total expected TAXABLE income - $70357
Assuming standard deduction, no dependents, no other deductions, and you both are under 65 – estimated tax liability $6900 minus $800 make work pay credit = ~$6100.
If you both are above 65 – estimated tax liability would be ~$5780.
So – if your income tax withholding is expected to be $9,866 – that will cover your liability and you will have a refund.
That is wonderful news. Thanks. I would like to print this. Any idea how I do that?
Just figured out how to do it. Thanks for the great and timely results.