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Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 28906
Experience:  Taxes, Immigration, Labor Relations
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What percentage of tax should I pay yearly earnings my

Customer Question

what percentage of tax should I pay for my yearly earnings my social security is 22, 534.8 my annuity is 8, 776.32 my pension is 3,120 these are all yearly earnings how much tax should I pay total earnings are 33,168
Submitted: 1 year ago.
Category: Tax
Expert:  Lev replied 1 year ago.

I am assuming you are above 65 and Single - no dependents and are using standard deduction.

Your gross income includes

- annuity $8,776

- pension $3,120

social security is NOT taxable in your situation.
Adjusted Gross Income (AGI) woudl be $11,896

Std. Deduction $7,850

Personal Exemptions $4,000

and your annual tax liability woudl be $5.

Expert:  Lev replied 1 year ago.

If you are below 65 - your standard deduction woudl be $6300

and our annual tax liability would be higher - $223.

Any questions?

Expert:  Lev replied 1 year ago.

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If you still have any doubts, need clarification - please be sure to ask.
I am here to help you will all tax related issues.