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Jax Tax
Jax Tax, Tax Attorney
Category: Tax
Satisfied Customers: 1408
Experience:  JD, LL.M in Business and Taxation, IRS Enrolled Agent. Expert in Business and Tax Transactions
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My new job does not with hold any taxes from my pay, I work

Resolved Question:

My new job does not with hold any taxes from my pay, I work in D.C. and I live in MD. I am trying to find out how much tax will I be paying for when I file my taxes or what percentage should I put aside for taxes?
Submitted: 5 years ago.
Category: Tax
Expert:  Jax Tax replied 5 years ago.

Jax Tax : I would count on atleast 40% for Federal, Maryland, and DC. 13.3% social security Medicare, 20% Federal Income tax, and 6.7% between DC and Maryland. You get taxed in both states but not doubled taxed with credits.
Jax Tax : Form 1040es should be used quarterly to avoid penalties and similar forms are available for the state.
Customer: Wow that's a lot.
Customer: Ok thank you
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