Have a Tax Question? Ask a Tax Expert
Welcome to Just Answer. I am here to help you resolve your tax and finance concerns. Please feel free to ask anytime you need extra help.
What is your question?
This will be a standard deduction return. The numbers will appear as follows:
Supplies, etc -800
Auto use -3825 (at standard mileage rates)
Net income 49,375
Less Standard deduction -8500
Less Exemptions -11,100
Taxable income 29,775
Less Child care credit -810
Less Child tax credit -1000
Net tax 3,066
Plus self employment tax 6,074
Total tax 9,140
Less additional child tax credit -1000
Net tax 8,140
Then subtract any estimated tax paid in to get the tax you still owe.