Im waiting on my w-2 for 2011 and I'm trying to figure out my fica I made $53, 980 filing single what is my federal income tax? how do you caculate?
State/Country relating to question: Florida
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.
Good morning. It depends upon what your net taxable income is, not your gross income. You taxable income is your gross income less any deductions from your gross income .
Here are the 2011 tax brackets for taxable income..
I hope this has givenyou information that has been helpful to you. If the information seems moregeneral than specific, please be aware that we are only allowed to provideinformation and not specific advice. If you have a follow-upquestion, please remember that there might be a delay between your follow upquestions and my answers because I may be helping others or taking a break.
If you do have any additional questions aboutmy answer please click the "ContinueConversation Link" so I can provide you with a fullysatisfactory answer. Pleasebe aware that any rating of 1 or 2 is reflected as a negative rating and I receiveno credit for my answers.
Thanks for allowing meto be of service to you. Please be aware that the information provided here isnot legal advice. Rather it is simply general information. All states have intricacies in their lawsand any information given is simply information only and specifically is notintended to be, nor does it constitute, legal advice. This communication doesnot establish an attorney-client relationship with you. I hope this answer has been helpful to you.