Tax

Have a Tax Question? Ask a Tax Expert

Ask an Expert,
Get an Answer ASAP!

Tax

If you make 500,000.00-700,000.00, what would be your taxes…

Customer Question
If you make 500,000.00-700,000.00...

If you make 500,000.00-700,000.00, what would be your taxes with maybe 25-50,000.00 in deductions ?

Accountant's Assistant: I hope not.

Off the top, what woud yu probably be paying in feeral taxe?

Accountant's Assistant: PayPal, Debitcard or credit card are all fine.

The amount please.

Accountant's Assistant: The expert will know how to help. Please tell me more, so we can help you best.

If you are making that amount, what would be likely th aount of fderal taxes?

Accountant's Assistant: Is there anything else the expert should be aware of?

No,I just want n idea. Its not me but someone I know and they say its 200,000.00, nd I dont believe that.

Submitted: 6 months ago.Category: Tax
Show More
Show Less
Ask Your Own Tax Question
Answered in 1 minute by:
8/4/2017
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 6 months ago
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,394
Experience: Certified Public Accountant
Verified

Hi, my name is Mark. I will be happy to help you with your questions. Please give me a moment to prepare a quick projection.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 6 months ago

At $500,000 the taxes would come to about $138,000. At $700,000 the taxes would be close to 220K. I assumed that they had a filing status of single.

Ask Your Own Tax Question
Tax Professional: Mark Taylor, Certified Public Accountant (CPA) replied 6 months ago

If this answered your question I would appreciate if you would take a moment to rate my response. There should be stars located above the question. This is the only way that I will receive credit for helping you today. If you have additional questions or need clarification I would be happy to help.

Ask Your Own Tax Question
Ask Mark Taylor Your Own Question
Mark Taylor
Mark Taylor
Mark Taylor, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 2,394
2,394 Satisfied Customers
Experience: Certified Public Accountant

Mark Taylor is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

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.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...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.WMatteson, 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.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, 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.

OrvilleHesperia, 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!!!!

AlexLos 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.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,312 satisfied customers

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

Richard

Richard

Tax Attorney

4,362 satisfied customers

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

Robin D.

Robin D.

Senior Tax Advisor 4

14,120 satisfied customers

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

Megan C

Megan C

Certified Public Accountant (CPA)

8,652 satisfied customers

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

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

R. Klein, EA

R. Klein, EA

Enrolled Agent

1,839 satisfied customers

Over 20 Years experience

< Previous | Next >

Related Tax Questions
I have a tax prepare falsely put inflated information in my
I have a tax prepare falsely put inflated information in my tax return and sent my tax refund to a different bank. … read more
abci168
abci168
Principal
27 satisfied customers
My colleague is preparing her tax return. In 2017 she drove
Hi. My colleague is preparing her tax return. In 2017 she drove 11,000 miles. Approximately 8000 of those miles were for business defined as W-2 business and 1099 business. She is going to be filing a… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,316 satisfied customers
I have a client who files married at single rate and is
I have a client who files married at single rate and is wondering if she can file separate from her now ex-husband. They were legally divorced in January of this year, but were separated in late Octob… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
14,120 satisfied customers
The standard deduction is 12,700 for married filing jointly
The standard deduction is 12,700 for married filing jointly why does the 1040 form say 4050? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,058 satisfied customers
Have a question about filing for relocation deductions. I
Hey I have a question about filing for relocation deductions … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,316 satisfied customers
In preparing my current tax return, tax act.com provided me
in preparing my current tax return, tax act.com provided me with a report titled "shareholder basis summary report" in conjunction with my K-1...it has a loss carryover amount for "total stock net adj… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
736 satisfied customers
Are there any refundable tax credits for an individual with
Are there any refundable tax credits for an individual with children and only Social Security disability income?… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
14,120 satisfied customers
Does require tax preparers to register or otherwise be
Does Virginia require tax preparers to register or otherwise be licensed? Are out of state preparers exempt?… read more
Carter McBride
Carter McBride
LLM
441 satisfied customers
Will Turbo Tax Deluxe 2017 pick up 2016 file prepared with
Will Turbo Tax Deluxe 2017 pick up 2016 file prepared with Turbo Tax Home and Business? … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,058 satisfied customers
Are non resident aliens taxed at the same rates? Are there
Are non resident aliens taxed at the same rates? Are there certain credits/deductions NRAs cannot receive? I notice if I prepare a return both ways, the resident receives a larger refund.… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,316 satisfied customers
A CPA prepared a filed a personal return last april. There
A CPA prepared a filed a personal return last april. There was a NYS and NYC refund due. The check never was received. The CPA is not helping procure a replacement check, whom should the person call o… read more
LEV
LEV
Retired
Bachelor's Degree
14,896 satisfied customers
What are the Qualifications to be a Tax Preparer in New York
What are the Qualifications to be a Tax Preparer in New York Area Also any educational requirements for PTIN & EFIN renewal and opening your own Tax Preparer Business ?… read more
Carter McBride
Carter McBride
LLM
441 satisfied customers
Have a new client whose prior tax preparer did not file an
Have a new client whose prior tax preparer did not file an extension for his 2016 partnership return and he has received a Late File bill. How do we file a FTA request to waive? Is that possible for a… read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,316 satisfied customers
I used to work for Hewitt as a tax preparer and figured
I used to work for Jackson Hewitt as a tax preparer and figured while I carried a simple insurance for "error and omissions" they had a larger umbrella insurance to cover me for larger million dollar … read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I am preparing a form 8802 for an LLC that will be filing as
Good morning. I am preparing a form 8802 for an LLC that will be filing as a Partnership on Form 1065. For 2016 this entity was a Single Member LLC and two Partners were admitted October 1, 2017. … read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,058 satisfied customers
RE: FOREIGN TAX CREDIT We're filing a married joint filing
RE: FOREIGN TAX CREDIT We're filing a married joint filing tax return and have come up against some problems on form 1116. 1) Do we add both our names on the form? 2) On line 3a, it asks for certain i… read more
Barbara
Barbara
Enrolled Agent, Paralegal
4,058 satisfied customers
My tax preparer is with Liberty Tax, and filed incorrect
Hi. My tax preparer is with Liberty Tax, and filed incorrect returns without my knowledge or significantly … read more
Chad EA, CFP ®
Chad EA, CFP ®
IRS Enrolled Agent, CFP(R),
Master\u0027s Degree
1,316 satisfied customers
If our tax preparer files for an extension, will we get
If our tax preparer files for an extension, will we get charged with interest and penalies … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
14,120 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x