• 100% Satisfaction Guarantee
Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 8288
Experience:  Juris Doctorate, CFP and MBA, Providing Financial & Tax advice since 1986
1929974
Lane, JD, CFP, MBA is online now

# I am in the 20% tax bracket if I make \$220.00 a month before

### Resolved Question:

I am in the 20% tax bracket if I make \$220.00 a month before tax, how much more should I earn to make the \$220.00 after taxes and 1099 fees.
thank Don
Submitted: 2 years ago.
Category: Tax
Expert:  Lane, JD, CFP, MBA replied 2 years ago.

Lane :

Lane :

he way you'd want to do that is to think of it this way; WHAT times 120% = 220 or said differently WHAT when 20% is taken off will still leave 220

Lane :

So you multiply 220 x 120% (or 1.2) and that's 264

Customer:

say agan

Lane :

At 20% it's around 264

Customer:

is there a fee to file a 1099

Lane :

The 1099 is what you get from the person paying you, (they'll also send a copy to IRS) so you can use it to do your taxes for the year

Lane :

no cost to file BUT if the company DOESN'T send it to the contractors and to the IRS the IS a penalty

Customer:

thanks

Lane :

Your welcome - let me know if I can help further - positive feedback appreciated

Lane, JD, CFP, MBA, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 8288
Experience: Juris Doctorate, CFP and MBA, Providing Financial & Tax advice since 1986
Expert:  Lane, JD, CFP, MBA replied 2 years ago.

Thanks Don!

Just to make the math more DIRECT ... simply divide by 1 - 20%

So the number if you're in the effective 20% bracket is actually 275.

200 divided by .8 = 275

Then to prove it, 275 x 20% = 55

and 275 minus 55 = 220

So, again, whatever the tax rate is ... Divide the number you want to end up with by (1 - that rate)

Thanks again
Lane

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

### What Customers are Saying:

• I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
< Previous | Next >
• I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response... T.G.W Matteson, IL
• I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight. Bonnie Chesnee, SC
• Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation. John Minneapolis, MN
• Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with. Orville Hesperia, California
• Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help. Mary C. Freshfield, Liverpool, UK
• This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!! Alex Los Angeles, CA
• Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult. GP Hesperia, CA

• ### Wallstreet Esq.

#### Satisfied Customers:

577
10 years experience
< Last | Next >

### Wallstreet Esq.

#### Satisfied Customers:

577
10 years experience

### Mark D

#### Satisfied Customers:

1245
MBA, EA, Specializing in Business and Individual Tax Returns and Issues

### Richard

#### Satisfied Customers:

3882
29 years of experience as a tax, real estate, and business attorney.

### Robin D.

#### Satisfied Customers:

11072
15years with H & R Block. Divisional leader, Instructor

### Megan C

#### Satisfied Customers:

8621
Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

### jgordosea

#### Satisfied Customers:

2884
I've prepared all types of taxes since 1987.