Have a Tax Question? Ask a Tax Expert
If I make $35,000 per year, file single with no dependents, go to school paying tuition of about $9,000 per year, will I owe taxes at the end of the year? I typically withhold 1%. Any answers will help me a great deal. I am considering taking a better paying job, which is the $35K, but it puts me in a higher tax bracket I believe.
Based on the information you supplied, your tax liability would be estimated at $4700. You did not say how much withholding you have, so you would subtract the withholding from the $4700. If you had more in withholding than tax, you would get a refund. If you had less than $4700 withheld, you would owe when you filed your return.
Okay I understand, this is what I have for the same employer from a prior year. Wages = $28,733.24, Federal Income Tax Withheld = $3,244.50, SS Tax Withheld = $1,781.46, Medicare Tax Withheld = $416.63. I hope this information helps.
And how can I ensure that $4700 is withheld in federal taxes?