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Lev, Tax Advisor
Category: Tax
Satisfied Customers: 29576
Experience:  Taxes, Immigration, Labor Relations
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How much income tax should be owed on $95000, earned by a married

Customer Question

How much income tax should be owed on $95000, earned by a married couple in Colorado?
Submitted: 7 years ago.
Category: Tax
Expert:  Lev replied 7 years ago.

Assuming all income from wages, you file a joint tax return, use standard deduction, do not have any dependents, do not have other deduction and credits - your estimated income tax liability for 2009 would be $11,450.

You might be eligible for Making work pay credit - $800

If your tax liability is less than your withholding - you would be able to claim a refund.

If you itemize deduction - your tax liability might be less.


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