tax question?

Question

worried i may not have paid in enough....no dependents, actual earnings was 22000.00 plus rental income of 10,000.00 my federal withholding was 1838.00 and my mortgage interest paid was 9711.00, anyone, anyone at all, i am not good at taxes, but hoping someone can tell me what i may be looking at, i am tired of giving the govt. my money all year was hoping they would give me alittle something back....of course i know there are many other factors and deductions to figure in, but a ballpark figure of what i am looking at would be oh so nice....thanks

by the way, i am a mgr. for a restr. but i end up waiting tables a lot when staff doesnt show up, so i make a lot of tips

property taxes 1200.00, property expenses and insurance policies(are those deductible?) are about 1700.00 insur and maybe 1000.00 exp. my tips are about 250.00 a week

Answer 1

Since mortgage interest comes off the top, your taxable income will be about $15,000 not including tips. Looks like about $300 return at this point.

Answer 2

You can't answer this question with the facts given.
You mentioned rental income and mortgage interest but not real estate taxes other rental expenses and depreciation on the building. Generally all of the expenses and depreciation on the building would result in a loss on the rental schedule which you would be able to deduct from your other income.
Also tips received are income to you and you don't mention how much they are in total.

Answer 3

If you fill out the long form you may get a little back. go on line and figure both ways and see where you would benefit.

Answer 4

You will owe about $500.

22,000 + 10,000 - 9711 - 3300 = $18,989
Tax is 2469